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Shangtang Technology, a leading company in machine vision and deep learning, has recently secured a significant investment of over 6 billion yuan in Shanghai. With few AI startups focusing on machine vision in China, the sector is highly competitive, but Shangtang has managed to carve out a strong position. The substantial funding highlights its potential and growing influence in the AI space.
The collaboration between the Shanghai Municipal Government and Shangtang Group was formalized through a strategic cooperation framework agreement. Deputy Secretary of the Shanghai Municipal Committee and Mayor Ying Yong, along with Professor Tang Xiaoou, founder of Shangtang Group, attended the signing event. Representatives from both sides, including Zhou Bo and Zhang Wen, signed the agreement, marking a major milestone for the company.
In addition to the government partnership, Shangtang also signed an agreement with the Xuhui District Government, further solidifying its presence in Shanghai. According to the deal, Shangtang plans to invest no less than 6 billion yuan in the city over the next five years. This includes setting up global R&D centers focused on AI technologies such as smart cars, chips, and education, building AI industrial parks, promoting smart city applications, and strengthening talent development in the AI field.
Mayor Ying Yong emphasized that artificial intelligence is a key driver for the next wave of industrial transformation and a crucial force for future growth. He highlighted Shanghai's strengths in AI and expressed enthusiasm for welcoming companies like Shangtang to contribute to the city’s AI ecosystem.
Tang Xiaoou, founder of Shangtang, stated that the company aims to become a global leader in AI by developing original core technologies. He welcomed the opportunity to support Shanghai in becoming a national AI innovation hub.
Recently, Qualcomm Ventures announced a $410 million Series B funding round for Shangtang, making it one of the most funded AI startups globally. The company has already partnered with major tech firms like OPPO, vivo, Huawei, and Xiaomi, providing cutting-edge face and image recognition solutions. These collaborations have helped enhance user experiences across various devices and platforms.
Shangtang’s team consists of top researchers from prestigious universities and experienced professionals from leading tech companies. Its leadership includes Xu Li, co-founder and CEO, who studied at the Chinese University of Hong Kong under Professor Tang Xiaoou. The team has made significant contributions to deep learning research, with multiple papers published in top computer vision conferences.
With continuous innovation and strong industry partnerships, Shangtang is well-positioned to shape the future of AI and drive technological advancements in multiple sectors.