Chinese AI Startups Outraised US Rivals in Venture Capital Funding, Says ABI
Chinese artificial intelligence startups raised $5 billion in 2017 venture capital funding from only 19 investments, overtaking their U.S. counterparts, which raised $4.4 billion from 155 investments, reported ABI Research Monday. The trend shows investors are “confident” with the AI…
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technologies the Chinese startups are developing, and with their business strategies and market potential, said ABI. “The influence of the Chinese government plays a key role in attracting investment in AI startups.” The government “is setting clear policy guidelines for the future development of AI and startups are responding with cutting edge AI technologies across many industries,” it said.