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4Paradigm eyes STAR Market listing
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AI firm 4Paradigm, which raised US$230 million in its latest round of financing in April, is considering listing on the Shanghai STAR Market, its chief said yesterday.
“We are considering an IPO window and opportunity and STAR is our priority choice,” Dai Wenyuan, 4Paradigm’s founder and chief executive, said in an interview at a conference in Shanghai.
Compared with other capital markets, STAR has open and flexible entry rules and share structure, which is suitable for high tech startups such as 4Paradigm.
4Paradigm launched a new enterprise artificial intelligence system, Sage AIOS, and various new products in Shanghai to offer “affordable” AI services. It has found domestic partners, including Huawei, to make services more affordable. With 4Paradigm’s technologies, the AI capability will improve by 30 times in the “foreseeable future” with reasonable cost, Dai stated.
Founded in 2014, Beijing-based 4Paradigm has over 8,000 enterprise clients for AI in the three core industries of finance, retail and manufacturing.
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