Beijing Baichuan AI Co., Ltd. announced that it has received CNY 5 billion in funding from Alibaba Group Holding Limited, Xiaomi Corporation, Tencent Holdings Limited, Shenzhen Capital Group Co., Ltd., Beijing Shunxi Venture Capital Fund Management Co.,Ltd., Shanghai Lingang Innovation Center Co., Ltd. and another investor
July 25, 2024
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Beijing Baichuan AI Co., Ltd. announced that it has raised CNY 5,000 million in a round of funding on July 25, 2024. The transaction included participation from new investors CICC, Asia Investment Capital Holdings (Shenzhen) Co., Ltd, Beijing Artificial Intelligence Industry Investment Fund (L.P.), a fund managed by Beijing Shunxi Venture Capital Fund Management Co.,Ltd., Shanghai Artificial Intelligence Industry Investment Fund, a fund managed by Shanghai Lingang Innovation Center Co., Ltd., returning investors Alibaba Group Holding Limited, Xiaomi Corporation, Tencent Holdings Limited,Shenzhen Capital Group Co., Ltd. and other head manufacturers and market-oriented investment institutions, as well as state-owned industrial investment funds. The round has raised at a post money valuation of CNY 20,000 million.
Xiaomi Corporation is specialized in the design, production and marketing of smartphones and connected products. Revenue by type of activity breaks down as follows:
- sales of smartphones and laptops (61.9%): 146.4 million units sold in 2020;
- sales of connected objects, electronic products and smart devices (27.4%): smart televisions, video projectors, smart routers, connected lighting systems, smart electric scooters, games monitors, headsets, multimedia boxes, multimedia feed readers, connected bracelets and watches, air purifiers, vacuum cleaners, etc.;
- provision of Internet services (9.7%): including advertising services, publishing of content, etc.;
- other (1%).
China accounts for 50.2% of net sales.
Beijing Baichuan AI Co., Ltd. announced that it has received CNY 5 billion in funding from Alibaba Group Holding Limited, Xiaomi Corporation, Tencent Holdings Limited, Shenzhen Capital Group Co., Ltd., Beijing Shunxi Venture Capital Fund Management Co.,Ltd., Shanghai Lingang Innovation Center Co., Ltd. and another investor
XIAOMI CORPORATION 
