美通社：Tech Valley has raised $3.19 million in A-round financing
The investment will improve Tech Valley's cooperation with the national rail transit
XIAMEN, China, March 29, 2018 /PRNewswire/ -- Tech Valley, the big data technology and application service provider, today announced that it has raised over $3.19 million in its A-round financing.
This landmark round was jointly led by CRRC-Times Fund, a venture capital fund company affiliated to CRRC, and Green Pine Colorful Dream owned by Green Pine Capital Partners.
In 2018, Tech Valley expects to surpass $10 million in revenue and $16 million in 2019.
Intelligent traffic big data center. The investment also aims to build an intelligent traffic big data center, improving the travel experience of rail transit, increasing corporate profits and guaranteeing passenger safety.
China's leading enterprise in intelligent transportation. Tech Valley is the leading enterprise in intelligent transportation in China. The company applies artificial intelligence (AI) and big data to transportation area and comes up with corresponding solutions. The team boasts abundant industrial resources and boasts a profound experience in fundamental techniques.
Technical innovation practice. Tech Valley has focused on developing new technology and building a team of excellent talents and has gained remarkable results. Together with Hong Kong-listed software provider Chinasoft International Ltd, Tech Valley has implemented the co-education project of the Ministry of Education through industry-academy cooperation, to cultivate professional talents in the areas of big data and AI.
AI and big data assets. In the areas of AI and big data, Tech Valley has earned more than 10 patents and 50 software copyrights.
Product innovation. Tech Valley developed the "transportation and travel brain," applying a great deal of data to automatically generate various labels of high accuracy, make predictions and establish models through multiple intelligent agents. Meanwhile, the brain will imitate how people think by transfer learning.
Optimization and linkage. The transportation and travel service that is developed by Tech Valley can be optimized and linked up for every single procedure and all kinds of scenarios. Its implementation has covered various user scenarios such as the traveler big data analysis in civil aviation and railway, helping clients fulfill all-channel personalized service, and offering predictable user experience and targeted marketing.
The transportation and travel service can also be applied in safety guarantee, monitoring and warning, and expanded to Internet of Things.
Strategic alliances. Being a dynamic player, Tech Valley has forged strategic partnerships with many enterprises and government organizations in the areas of aviation, railroad, urban transportation and public safety. Its alliances include Aviation Industry Corporation of China, China Aerospace Science and Industry Corporation, China Railway, TravelSky, UnionPay, CAAC, Tencent, Amazon, Huawei, ZTE, Inspur, Chinasoft International, Microsoft and Ctrip.
In 2018, China's central government plans to invest 732 billion yuan ($116.57 billion) in railroads and 1.8 trillion yuan in public roads and water freight.
In the new era for the transportation and travel industry, Tech Valley continues to focus on transportation and travel big data as well as AI. The firm has already taken the initiative to develop in the industry, with confidence to accelerate its development.
For this financing, Doctor Chen Sien, founder and CEO of Tech Valley, said, "Tech Valley provides fundamental, prospective, and strategic technology for the key areas and industries of economic and social development. Through AI + big data, Tech Valley builds both the management ecosystem for transportation and travel service, such as the safety system of airports, railways, subways, and the service system for aviation companies, OTA fine management, plus the best intelligent dispatch system for civil aviation and railroad. Tech Valley has become the pioneering unicorn company leading the transformation of the transportation industry, including civil aviation and railroads."
Dr. Wang Peng, president of CRRC-Times Fund and assistant general manager of CRRC Zhuzhou, said, "'Connect the World, Benefit the Human Race' is the mission and vision of CRRC. CRRC-Times Fund has long been looking for potential investment opportunities of intelligent travel and firmly believes that big data and AI and their application will make people travel smart in the future. The layout of Tech Valley in the data service aviation and rail transportation is well-arranged. A big data service platform has been provided. In real scenarios and data application, Tech Valley has shown some outstanding advantages. We believe that Tech Valley will be the leading and pioneering enterprise in intelligent transportation and travel service in China. CRRC-Times Fund is also looking forward to mutual growth with Tech Valley."
Yang Jinye, co-founder of Green Pine Colorful Dream owned by Green Pine Capital Partners, said, "The entrepreneurial team of Tech Valley is made up of professionals and experienced experts in the areas of big data and aviation. With their industrial resources in transportation and travel, the company provides solutions integrating big data and AI. It has already gained the acknowledgment from major domestic aviation and railway clients. Now, it is going global. We hope to make more contribution in terms of industrial cooperation and resource allocation, to grow together as a team."
About Tech Valley
Tech Valley focuses on the big data technology and application service. We Integrate the reliable data of airlines, airports, as well as operators, and provide data integration service model, which based on the hybrid cloud. We also create a data analysis system based on large scale graph mining and provide the passengers' portraits and precise marketing scene design for airlines and related industries.
The big data platform and products that developed by Tech Valley have been successfully applied in several domestic airlines and airports already. In the further development of cloud computing, big data together with mobile internet, Tech Valley will always be committed to sustainable innovation of big data technology and service, creating excellent brand of big data in the field of civil aviation, and gradually becoming a global leader in the technology and application of big data.
For more information please visit: http://www.techvalley.com.cn/en-index.aspx?lang=en
About CRRC-Times Fund
CRRC-Times Fund was established by Zhuzhou CRRC Times Investment Co., Ltd, with a registered capital of 100 million yuan and the investment capacity up to 1 billion yuan. As the professional investment vehicle of CRRC, the fund is the very critical platform that combines the operation of capital and management of asset. It provides services including equity investment, fund management, financing guarantee, and management consulting.
About Green Pine Colorful Dream
Green Pine Colorful Dream was founded in June 2015 by Shenzhen Green Pine Dream Investment and Management Co., Ltd which was jointly initiated by Shenzhen Green Pine Capital Partners Co. Ltd and Shenzhen Landray Software Co., Ltd. Green Pine Colorful Dream exclusively forces on the investment in startups that are engaged in enterprise-oriented services, big data and artificial intelligence. With rich experiences and pervasive networks in areas of enterprise-oriented services, chip design and manufacturing, IT architecture, manufacturing and supply chains, the team is dedicated to providing entrepreneurs with a full range of services of venture capital investment and mentoring.
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