Grandhonor completes 300 million RMB Series C financing

Grandhonor completes 300 million RMB Series C financing

Shanghai Gaozhong Information Technology (Grandhonor) has completed a 300 million yuan C round of financing, according to a 36Kr report.

The investment was jointly led by state-owned assets companies, including Qingdao Conson Financial Holdings, Qingdao City Construction Investment (Group), and Qingdao Jiaozhou Industrial Fund. Daion Capital acted as the financial advisor.

Grandhonor stated that the C round of financing would be used for the upgrading of its core AI technology platform “Grandcore,” the R&D investment in big data platform technology, the product development and market expansion in industry scenarios such as “finance, transportation, and smart cities” and improving its establishment of “industry + AI” solutions.

The company also said that to strengthen its advantages on core technologies, it would boost cooperation between schools and enterprises and establish joint laboratories with well-known domestic universities.

It also focuses on building a high-level artificial intelligence research institute, developing areas including machine vision, speech semantics, intelligent decision-making, network security, and building a big data platform.

Grandhonor was established in 2014. Based on artificial intelligence and big data, it provides “industry + AI” solutions for financial, transportation (civil aviation), and smart city use cases.

Its major customers include China Merchants Bank, Industrial and Commercial Bank, Pudong Airport, Baiyun Airport, China Telecom, China Railway Corporation, Shimao Property Holdings, the Forbidden City, etc.

In the financial field, based on AI algorithms and big data technology, Grandhonor uses edge computing devices to provide AI capabilities such as dynamic face recognition, human body recognition, and trajectory recognition.

It is providing closed-loop solutions combining potential customer recognition and auxiliary marketing for financial clients such as banks.

Based on AI algorithms and software developed independently, it provides banks with a smart audit solution based on both audio and video records to improve the security and efficiency of bank operations.

In the field of civil aviation, it analyzes and predicts the development of customs clearance (check-in, consignment, security, and boarding) at the terminal. Grandhonor provides the airport with smart customs clearance products integrating software and hardware to improve airport service quality and airlines operation control efficiency.

Aiming at the aircraft operation life cycle, the company can provide a smart aviation apron system that uses machines instead of labor to perform 24/7 comprehensive and full-coverage real-time monitoring.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/02/22/grandhonor-completes-300-million-rmb-series-c-financing/.

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