Tigerobo Raises over RMB 100 Million Series Pre-A to Create an Intelligent Financial Search Engine
2018年6月25日 - 2:14PM
JCN Newswire
On June 5, 2018, Tigerobo, an AI-based financial search engine
start-up, announced today that it has raised over RMB 100 million
in Series Pre-A led by NWS Holdings (00659.HK), a subsidiary
company of New World Development Company Limited, and Gaorong
Capital. Sun Hung Kai & Co. Ltd. (00086.HK ) participated as
co-investor. In August 2017, the company closed Series Angel fund
raising with tens of millions RMB, participated by Gaorong Capital,
Light Up Capital as well as Zhang Tao, founder of Dianping.com.
Tigerobo, which was launched in July 2017, offers an intelligent
search engine to help professional and individual investors improve
their efficiency of research by orders of magnitude. The
accurateness, completeness, and timeliness of information is
fundamental to human decision making.
In the financial industry among many others, however, the way
people collect and consume information has not kept pace with the
revolution of AI. The traditional approach is labor intensive,
cannot scale beyond a dozen standard financial metrics, hence
missing more important first-order, operational and alternative
data, even leading indicators. Human labor is error-prone, cannot
respond fast to the overwhelming information. On the other hand,
the way users acquire and consume the information is cumbersome,
through an over-loaded terminal, by browsing a gigantic portal.
Tigerobo takes an AI-based approach. By leveraging and advancing
the cutting-edge neural text processing technology, Tigerobo builds
a machine comprehension system that collects and understands the
data into knowledge, automatically and promptly as the raw data
emerges. The machine comprehended knowledge is then handy for users
to consume, through a natural language interfaced chatbot or
question-answering system. The team believes this is the future way
to consume information and knowledge, on demand, straight to the
point, and in real time.
"We will stay at the cutting edge of artificial intelligence, so
that we can enable superior user experience unprecedentedly,
focusing on the financial data industry" said Dr. Chen Ye, founder
and CEO of Tigerobo. In less than one year of stealth mode,
Tigerobo's intelligent search has covered data from global capital
markets, from macroeconomy, industries and companies, and they are
expanding rapidly.
The company has been testing its products with professionals from
several top financial institutions in China for couple of months.
And its accuracy, real-time-ness and efficient search experience
has greatly exceeded users' expectation.
Dr. Chen Ye, the founder & CEO, is one of the experts under the
Shanghai Thousand Talents Plan. He was a senior vice president of
Meituan-Dianping. Prior to that, he had served as principal
development manager and principal researcher in Microsoft, eBay,
and Yahoo in the United States, deployed several artificial
intelligence applications with significant business impact. He has
also received best paper awards for three times in top artificial
intelligence conferences (KDD and SIGIR) and published more than 20
papers in the field of artificial intelligence and machine
learning. Some of his work has been incorporated into the graduate-
level course materials at top AI schools including Stanford and UC
Berkeley. Ye obtained Ph.D. from University of Wisconsin-Madison,
was guest lecturer at UC Berkeley. Dr. Chen holds more than 10
patents.
Dr. John Canny, Tigerobo's co-founder and chief scientist, has been
a professor of computer science at the University of California,
Berkeley since 1987. John has served as technical advisor for
Yahoo, eBay, Microsoft, and Google over the past decade, more than
half of which he worked closely with Dr. Chen, successfully
bringing cutting-edge AI technologies into business reality. John
is a world-class computer scientist and AI expert. He has published
more than 170 papers and won 15 academic paper awards.
NWS Holdings Executive Director Brian Cheng remarked, "Artificial
intelligence has great application potentials in financial
information and data anlaysis, and will enable revolutionary
development in this industry. The Tigerobo team is ready to grasp
this huge opportunity. We are impressed by the team's capabilities
in technology and commercialization, and confident that they will
bring forward home-grown technological innovations that could
impact the world."
"Artificial intelligence is playing a pivotal role in financial
services more so than ever. The recent revolutionary advance in AI
is very likely to reshape the industrial structure or even enable
new business models. Tigerobo has a world-class team in technology
and product development. The team is building innovative products
to offer unprecedented user experience and bring financial data and
knowledge to every individual rather than only accessible to a few
professionals. Gaorong is very honored to be part of the great
journey," said Yue Bin, the founding partner of Gaorong
Capital.
Li Chenghuang, the Chairman of Sun Hung Kai Co., Ltd. also shared
his opinion, "Tigerobo's core founding team has world-class
scientists and algorithm experts in the field of artificial
intelligence. They have profound insight into the industry, and
their approach and product just hit the pain points, hence have an
immense potential. We have been actively and strategically invested
in finance and fintech worldwide recent years, which will bring a
strong synergy with Tigerobo."
"We share the same view as the team that AI will revolutionize the
user experience in financial sector. We are constantly impressed by
Tigerobo's capability and vision along the way, and look forward to
supporting their continued growth." said Li Jing, the founding
partner of Light Up Capital.
The funding will enable the company to continuous invest on
talents, technology and product, data acquisition, as well as
business development.
"No better time than now to be an innovator and entrepreneur in
China", Chen Ye commented with full passion: "China has a massive
market, and talents and technology are rapidly catching up with
most developed countries. We are determined to solve world-class
problems through fundemantal scientific research and hard-core
engineering, and to create a China-made world leading technology
phenomenon."
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