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Shangtang Technology, a leading company in machine vision and deep learning, has recently secured a major investment deal worth over 6 billion yuan in Shanghai. With few AI startups focusing specifically on machine vision in China, Shangtang stands out as a key player in this competitive field. The substantial funding highlights the growing interest in AI innovation and positions the company as a significant force in the industry.
In a recent development, the Shanghai Municipal Government and Shangtang Group signed a strategic cooperation framework agreement. The event was attended by high-level officials including Deputy Secretary of the Shanghai Municipal Committee and Mayor Ying Yong, as well as Professor Tang Xiaoou, founder of Shangtang Group. The agreement was signed by Zhou Bo and Zhang Wen on behalf of both parties. Additionally, Shangtang Group also entered into a cooperation agreement with the Xuhui District Government, signaling a broader commitment to AI development in the city.
Under the agreement, Shangtang will invest no less than 6 billion yuan in Shanghai over the next five years. The collaboration includes several key initiatives: promoting breakthroughs in AI technology by establishing global R&D centers for smart cars, chips, and education; building an AI ecosystem through industrial parks and deep learning platforms; advancing smart city applications to improve urban management; and enhancing talent development by attracting top AI professionals to Shanghai.
Mayor Ying Yong emphasized that AI is the core driver of the next industrial revolution and a key engine for future growth. He highlighted Shanghai’s strong foundation in AI and its efforts to establish itself as a national AI development hub. He welcomed companies like Shangtang to leverage Shanghai’s talent pool, industrial advantages, and large-scale application opportunities to foster innovation and create a thriving AI ecosystem.
Tang Xiaoou, founder of Shangtang Group, expressed his pride in joining Shanghai’s AI industry, stating that the company aims to become a global leader in AI and contribute to the city’s vision of becoming a national AI powerhouse.
Recently, Qualcomm Ventures announced a new round of investments in nine Chinese AI companies, including Shangtang Technology. This further solidifies the company’s position in the AI landscape.
With a focus on original technology, Shangtang has pioneered applications in face recognition, image processing, autonomous driving, and AI chips. It has established partnerships with over 400 renowned companies worldwide and is one of the largest suppliers of AI algorithms in China. Recently, OPPO R11s integrated Shangtang’s dual-camera image processing technology, offering features like real-time blur effects, portrait segmentation, and high-precision depth maps.
Beyond OPPO and vivo, Shangtang also provides facial and object recognition solutions for Huawei and Xiaomi. For instance, Huawei Mate8’s “Smart Cloud Map†uses Shangtang’s technology to automatically organize photos based on faces and scenes, while Xiaomi MIUI7 benefits from Shangtang’s face recognition algorithm for intelligent album sorting.
The company’s core team includes top scientists from prestigious universities such as Hong Kong University of Science and Technology, Tsinghua University, and researchers with experience at tech giants like Microsoft, Google, and Baidu.
Xu Li, co-founder and CEO of Shangtang, earned his Ph.D. at the Chinese University of Hong Kong and worked closely with Professor Tang Xiaoou. In 2011, a group of researchers led by Tang Xiaoou and Xu Li became the first Chinese team to focus on deep learning, achieving remarkable success in international conferences like CVPR and ICCV between 2011 and 2013.
In July 2023, Shangtang completed a $410 million Series B funding round, setting a record for the largest single-round AI financing globally and making it the highest-valued AI unicorn at the time.