MiningLamp Technology is a Beijing-based big data and artificial intelligence company. It develops products and services centered on big data analytics and AI. The company announced the completion of a $300 million Series E round of financing. The round was led by Tencent and Singapore’s state-owned investment firm Temasek. The article does not provide operating metrics, use of proceeds, or details of other investors. 明略科技 positions itself as an AI solutions provider focused on constructing enterprise data middle platforms and applying knowledge-graph and NLP technologies. The company reports serving more than 2,000 customers, including Procter & Gamble, Yum China, metro systems in Beijing and Shanghai, Construction Bank, China Life, Ping An Bank, multiple city big-data bureaus and a state power company. It says its core task is to help users build a data middle platform as the central management architecture for industry-wide digitalization. 明略科技 plans to pursue a productization strategy and will increase investments in technology, market expansion and talent. Management intends to work with investors to expand internationally under Belt and Road and to capture digitalization opportunities driven by new infrastructure, including targeted expansion in Russia and Southeast Asia. The company has been recognized in Gartner’s 2020 graph-technology Cool Vendor report and received the 2020 Wu Wenjun Artificial Intelligence Technology Invention First Prize. Minglue Data (北京明略软件系统有限公司) is a big-data application company focused on public security, finance, industrial and IoT sectors, delivering industry AI and business intelligence via knowledge-graph database implementations. The company says its core work is data fusion and governance to enable industry AI and to move customers beyond simple data on‑line to analysis, mining and a closed AI loop. Minglue plans to heavily invest its new capital into frontier technology R&D, expanding its data fusion and governance capabilities for AI. The company also intends to recruit more industry experts and international top scientists and to improve industry AI solutions and product user experience. Financially, Minglue completed a ¥1.0 billion C round and the transaction price for the company after the round was ¥1.4 billion. Founded in April 2014 and based in Beijing, the company has previously raised an A round in 2015 and a B round in 2016.

Total raised

$659M

Funding rounds

3

Latest round

Series E

Latest activity

Mar 2020