On January 18, 2021, Extreme Vision, an artificial intelligence (AI) vision algorithm marketplace, held a "Series C1 Financing Press Conference" in Shenzhen and announced the completion of its Series C1 financing. Many media, such as investorscn.com, the Nanfang Daily, Sina, the Guangdong section of QQ.com, Jiemian.com and Securities Times, attended the conference. This round of financing was jointly sponsored by North Summit Capital and Skychee Ventures, with Yiren Capital acting as the exclusive financial advisor. The funds raised will be used mainly to build an AI development engine, an infrastructure platform and an ISV and product technology partnership system. Extreme Vision received Series A+ funding led by the China Resources Innovation Equity Investment Fund. It also received Series B funding led by Qualcomm Ventures and followed by the China Resources Innovation Equity Investment Fund, the Shenzhen Chuangxing Frontier Technology Equity Investment Fund and the Laima Investment Management.
As a professional AI and computer vision algorithm provider, Extreme Vision has created the first AI vision algorithm marketplace in China. It boasts the world's leading video analysis technology and the world's most extensive image recognition algorithm categories. Its "Extreme Market Platform" and the "Extreme Star Platform" are the strong underlying infrastructure support for the algorithm marketplace. The "Extreme Market Platform" is used for rapid algorithm development, while the "Extreme Star Platform" is used to promote the efficient application of algorithms.
At the press conference, Mr. Chen Zhenjie, CEO of Extreme Vision, gave a speech titled "Expanding categories and focusing on cost-effectiveness, the algorithm marketplace accelerates the full-AI scenario implementation". He said, "AI vision has evolved from the technology trigger and key scenario implementation stages to the large-scale project-oriented application stage. At this stage, there are two core market demands for the implementation of AI technology. They are the number of algorithm categories available and the algorithm cost effectiveness. To meet these market demands, Extreme Vision has adopted the algorithm marketplace + developer ecosystem model. Extreme Vision’s business models connect algorithm developers with the people who need algorithms. By providing developers with an underlying AI development platform, Extreme Vision can develop massive vision algorithms with them. The people who need algorithms can freely select algorithms in the marketplace for deployment and application according to the required scenarios. After five years of in-depth development, Extreme Vision will integrate industry factors and build an ecological platform based on the algorithm marketplace while continuing to promote business development and the iterative development of infrastructure products. By doing this, Extreme Vision can meet the extensive scenario needs of various customers and accelerate the integrated development of the entire industrial chain."
Chen Yong, the Managing Director of the CR Venture Capital Fund, said in his speech, "More and more investors and industrial capital are giving credit to Extreme Vision. This is because of the efforts of the Extreme Vision team and also proves that we have made the right decision. The mission of the CR Venture Capital Fund is to connect capital with innovative technologies in the market, thus helping traditional industries to innovate, develop, transform and upgrade. As a platform-based company, Extreme Vision can help meet social needs and also provide various visual recognition technologies for the diversified CR Group. We hope that Extreme Vision will be able to serve more customers with an increased product range and a greater depth of offering."
Dr. Min Wanli, the founder of North Summit Capital, said, "In terms of business models, we often talk about the sharing economy. What I am going to talk about today is sharing creativity and intelligence. Extreme Vision shares high-end computer vision algorithms and transforms vague language and the latest computer vision research results into knowledge that college students can quickly acquire and research topics that suit them. In addition, Extreme Vision could bridge the gap between customers with industry pain points and creative developers. I believe that as Extreme Vision brings customers and developers closer to each other, the two will jointly create and share a better future, and Extreme Vision will also achieve greater heights."
Mao Song, the Senior Director of Venture Capital at Qualcomm Ventures, said, "The improved network transmission and data processing capacities in the 5G era will accelerate the industry application of AI. The improvements will also promote the birth of more platform-based companies that can link industry needs with AI solutions. Extreme Vision is a representative of such platform-based companies. In the past few years, Qualcomm Ventures has been fortunate to witness the growth of Extreme Vision’s core capabilities of application aggregation and distribution. We expect Extreme Vision to continue to contribute to the development of the 5G and AI ecosystem together with Qualcomm."
