Pensees completed A Round financing of RMB 150 million, jointly invested by 360, Foxconn and other industrial capitals
On April 11, Beijing time, cutting-edge AI company Pensees announced the completion of A Round financing of RMB 150 million, which was jointly invested by 360, Foxconn and other industrial capitals. Pensees expressed that, this round of financing will be used to further consolidate the algorithm, R&D software and hardware products, build a richer product line, and carry out a full range of product layouts for vertical industries such as intelligent security and protection, intelligent manufacturing. In addition, Pensees will also strengthen its technical reserves through the Beijing and Singapore institutes, explore more implementation combination points for AI technology and various vertical industry scenarios, and pitch-in new tracks at proper time.
Adhere to the strategy of "Industry + AI", and constantly be recognized by top capitals and industrial capitals at home and abroad
As an AI company that specializes in computer vision and IoT technologies, and provides industry comprehensive application solutions, Pensees has previously completed the Angel round and Pre- A Round financing, and received the 10 million-level Angel round financing led by Hong Tai Fund in September 2018. In January 2019, the company completed the10 million-level Pre-A Round financing, the invest of which was led by IDG Capital, and followed by ECC Capital, Shanggu Capital, and Aplus.
This round of financing is the first time that industrial capital invested in Pensees. Pensees emphasizes that the development path and business model of the AI technology implemented in industry, facing scenarios, and deeply cultivating vertical industries, which receives recognition and supporting of the industrial community, and verifies the company's development strategy of "Industry + AI" and the capacity of industrialization implementation again.
It is stated by 360 Group that “The implementation application of AI technology in vertical industries is the focus of 360 investment considerations. Both the founding team of Pensees with Ma Yuan as the core and the newly joined Chief Scientist Shen Shengmei, pay great attention to the implementation application of technology in the industry, with strong industrial-grade R&D and delivery implementation capabilities, which not only assists the company to achieve rapid growth in the AI security and protection industry, but the full stack technology of computer vision of the team also has great development potential and imagination in many industries. In the future, 360 will focus on helping Pensees expand more vertical industries for the implementation of AI technology, while Peneses Technology will also help 360 in the safe brain layout of the city."
It is stated by Foxconn Technology Group that, "For the industry, solving problems from scenarios is the peculiarity of Pensees, and also the investment logic of Foxconn. In the field of To G and To B, whether the company can deeply understand the pain points of the industry, and provide long-term services and overall solutions, determines its development speed and even the living space. As a representative company of a new phase of the AI development, Pensees has been deeply cultivating industries and excavating the scenarios since its establishment, and has constructed its own unique competitive advantage in less than one year, with the productization capabilities, project implementation capabilities and comprehensive service capabilities to solve problems according to industry requirements. We expect to promote the industrialization implementation of the entire AI industry together with Pensees."
In addition to investment, the join of industrial capital will also bring more AI security and protection vertical industry implementation scenarios to Peneses Technology. Pensees may actively explore the ToB business market beyond the public safety field, and launch a series of solutions in smart parks, smart communities, intelligent transportation, intelligent manufacturing, and other scenarios to assist the industry to upgrade intelligently.
It is known that Pensees and Foxconn have reached a strategic cooperation in smart parks and intelligent manufacturing. The intelligent manufacturing solutions, launched by Pensees on the basis of face recognition, pedestrian re-identification, behavior recognition, image clustering, big data and other core technologies, will assist Foxconn to improve employee work efficiency, manage and standardize the production processes, reduce the company management costs, and increase the company safety and security grade. Since the completion of the system, it has effectively early warned more than 160 violations events during the production process, reminding management personnel to intervene in time, to effectively avoid the occurrence of security incidents and achieve zero accidents in safe production. Moreover, it has successfully early warned the focused personnel for more than 30 times, providing a solid guarantee for the company's safety and security management.
The "Intelligent +" era is coming, constantly seeking implementation scenarios for AI technology and vertical industries
For the purpose of this round of financing, Ma Yuan, the founder and CEO of Pensees said, “We will increase investment in R&D of AI technology and products, continue to consolidate algorithms, R&D software and hardware products, build a richer product line, and carry out a full range of product layouts for vertical industries such as intelligent security and protection, intelligent manufacturing.”
At the same time, Pensees will continue to explore cutting-edge technologies from a global perspective, and make technical reserves to develop the AI field and explore new businesses for the company. The company will continue to explore more implementation combination points for AI technology and various vertical industry scenarios, and pitch-in new tracks at proper time.
As more and more industries try and welcome AI, a new wave of intellectualization with AI as the core technology driver is coming. The traditional industry is in a new era of intellectualization transformation. The request of more and more industries for AI technology is increasingly prominent, which brings higher requirements and challenges for technology innovation and product service of AI companies.
“Every technological innovation will go through a long process of evolution. As an application technology, AI technology is also undergoing such an evolution process.” Ma Yuan said, originally, the technology can only solve a certain problem in a certain scenario, however, with the general technology developing from the popularity to the industry, more and more segmentation scenarios will be met, which requires the combination of technology and scenarios to carry out technology optimization for different industries, so as to adapt and satisfy the specific requirements. During this process, a vertical "Industry + AI" company appears.
As a company in the new stage of AI development, based on the technical advantages and industrialization implementation capabilities of the R&D team, Pensees combines with the advanced productization and service capabilities of the vertical industry such as company's security and protection, adheres to the strategy of “industry + AI” and continues to promote the commercialization implementation and industrialization process of AI technology.
According to the external introduction of Peneses Technology, the company has completed the establishment of the full range of self-developed product systems from end-to-end, software and hardware to algorithms on the AI security and protection track. Meanwhile, aiming at the business needs of the management and control of complex crowd in different fields and multi-scenarios, Pensees has launched a mature, performable industry solution covering all the scenarios, in 16 specific sub-scenarios of five industries including AI+ public safety, AI+ smart community, AI+ smart park, AI+ intelligent transportation, AI+ intelligent manufacturing. Since the establishment, the industry solutions of Pensees have successfully executed in more than 50 cities across the country, serving more than 100 customers. It also has deployed dynamic face recognition points in many places across the country, arrested nearly 2,000 escaped personnel, and held the post of several security activities for large-scale national events.
Under the premise of consolidating AI security and protection main channel business and having sufficient AI technology reserves, Pensees will look for proper scenarios to pitch-in other vertical industries.
In recent days, Pensees announced to introduce Shen Shengmei as the Chief Scientist, who is the world's top scientist in the field of computer vision and deep learning, and establish the Singapore Institute. As a rare Chinese female scientist in the field of computer science and AI, Shen Shengmei has the full stack technology ability, including face detection and recognition, pedestrian detection and tracking, pedestrian re-identification, vehicle identification, automatic driving, driver behavior detection, mobile operation robots, etc., with the technical aspects across multiple application research fields of computer vision. On this basis, Pensees will make a moderate extension of the boundaries of technology and apply the computer vision technology to other sub-fields, and continue to explore cutting-edge technologies from a global perspective, making technical reserves for the company to develop its AI field and explore new businesses.
“Whether in the main channel of the AI security and protection industry, or the extension of the technology boundary into other vertical industries, Pensees will adhere to the strategy of 'industry + AI',” Ma Yuan said, in the new era of intellectualization transformation of traditional industries, Pensees will further deeply plunge into the vertical industry, deeply excavate the scenarios for the requirements of users, understand the problems and pain points in the industry, return to the essence of the industry, and then propose solutions to the problems, paying attention to the application implementation, and accompanying the industry and customers to growing up together.