China's MiningLamp gets $300m Expansion Funding

Beijing-based big data mining and AI company MiningLamp Technology has raised $300m in a Series E round of funding, which it will use to invest in its research efforts, add to its team, and expand its business.

The firm was founded in 2014 and initially offered online ad performance evaluation and fraud detection services for advertisers, before expanding the business to industries such as public security, smart cities, finance, logistics, entertainment, retail and manufacturing. Its marketing intelligence technology uses AI, big data analytics, customer relationship management and other technologies to help companies spot patterns in multi-sourced business data. This provides support for business decisions on user insights, brand analysis, consumer profiling, supply chain analysis, personalized advertising and marketing inventory management.

New funding has been co-led by Singapore's state investor Temasek Holdings and Chinese internet giant Tencent Holdings. MiningLamp founder and CEO Wu Minghui (pictured) comments: 'With the capital injection, MiningLamp can speed up our efforts to empower our clients to digitise, helping them successfully transform at a time full of uncertainty'.

Web site: www.mininglamp.com .