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AI firm 4Paradigm raises $700m in fundraising round

AI firm 4Paradigm raises $700m in fundraising round By Cheng Yu | chinadaily.com.cn | Updated: 2021-01-22 10:33 Share A logo of 4Paradigm. [Photo/4paradigm.com] Chinese AI company 4Paradigm announced on Friday that it has raised $700 million in its series D round of fundraising that was led by Boyu Capital, Primavera Capital, and Hopu Investments. With the new financing, 4Paradigm will accelerate its expansion across key industries to establish an enterprise-level and AI-based ecosystem as well as nurture more AI talents, the company said in an announcement. The round attracted new investors including the National Manufacturing Transformation and Upgrading Fund, China Development Bank, China Reform Holdings, China Jianyin Investment, CSC Financial, and Haitong Securities.

Former Imagination boss sues for unfair dismissal after boardroom battle

Former Imagination boss sues for unfair dismissal after boardroom battle Ron Black left Imagination in April after the company found itself at the centre of a political storm over claims of Chinese influence 17 January 2021 • 9:00am Ron Black, a veteran of the semiconductor sector, left Imagination in April after the company found itself at the centre of a political storm over claims of Chinese influence.  Imagination was taken private in 2017 for £550m by Canyon Bridge and is seen as a strategically important technology company, licensing graphic chip technology to clients including Apple. China Reform Holdings, Chinese shareholders in Canyon Bridge with ties to Beijing, had attempted to install four new board directors at the British graphics chip company last year.  The board nominations were ultimately withdrawn following a backlash from senior MPs and the intervention of Digital Secretary Oliver Dowden.

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