Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn

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Parametrix develops AI bots for use in game playing.

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation was not disclosed, Parametrix has joined the hallowed unicorn club (>$1 billion) after the funding. (Pandaily)

Founded by Liu Yongsheng, the former general manager of Tencent AI Lab and a T4 technical expert, the startup started to focus on developing AI for playing games such as Go and Honor of Kings. The latter is a multiplayer online battle arena (MOBA) game.

Game playing AI bots

Parametrix.ai created the AI bots “Jueyi” for Go and the AI “Juewu” for the game Honor of Kings. Recently, the startup was able to commercialize its AI bots for 3D FPS (First Person Shooter game) and has 400,000 AI bots in action.

Several hundred million users in more than 50 countries around the world use the AI bots created by the company. Its products draw tens of millions of daily active users, and a peak online usage of nearly a million users every day.

The company is also equipping its bots with natural language processing technology (NLP) taking their interaction with users to a new level.

Use of funds

Parametrix.ai will use the funding to boost its technology, develop international collaborations, and new products including for virtual worlds explored by both human beings and AI, example the Metaverse.

Related Story: Grayscale’s Report Paints The Metaverse As The Next Emerging Market Investment Frontier

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