AInnovation raises $57m led by China Renaissance's New Economy Fund

AInnovation raises $57m led by China Renaissance's New Economy Fund

Closeup photo of white robot arm. Source: Franck V./Unsplash

AInnovation, the artificial intelligence (AI) unit created by Chinese venture capital firm Sinovation Ventures, has raised nearly 400 million yuan ($57 million) in a Series B round of financing led by China Renaissance’s New Economy Fund.