6 August 2019, Shanghai UTH International announced the completion of its C-round funding. This latest round was led by Chinese tech giant, Tencent, along with the participation of multiple investors.
According to UTH's EVP of Operations, Henry Wang, the fund raised in this round will be mainly used for R&D of new AI products, expansion of business lines, and update of UTH's existing multilingual big database. "Along with investors' support in AI resources, technology, and business collaboration, we will further improve our corpus-based MT engine and customized NMT engine training platform, and enhance our capability in corpora processing," Wang says,"in addition, our business scope will be expanded to cover more sectors to include translation, education, legal services, IP protection, and smart devices. We will also devote substantial effort to optimizing our current platform for translation and academic writing."
Wang also highlights that UTH will launch a flagship Intelligent Big Data Lab Program (IBDLP) with collaboration of higher educational institutions across China, as part the company's effort to promote cooperation among enterprises, higher educational institutions, research institutes, and government agencies, and to provide solutions for clients across the demand chain. Backed up by the latest big data and AI technology of UTH's major investors, Tencent and Sogou, the program will channel substantial investment into the development of multilingual big data-based language technology and platforms, as well as the application of R&D results in products.
About UTH International
Established in 2012, UTH International is committed to providing innovative multilingual language solutions for customers across all industries.
We have developed a world-class AI-powered multilingual big data platform with over 15 billion sentence pairs categorized according to industry verticals. Over the past few years, coupled with our patented technologies, we have developed a series of multilingual data-based products, and have been providing big data solutions for multiple enterprises and institutes in cross-language communication, cross-border E-commerce, and artificial intelligence, among many others. We are also dedicated to tailoring products and solutions for clients in artificial intelligence, higher education, research institutions, language services, media, culture and tourism to greatly facilitate their globalization steps and market expansion.
Our extraordinary performance has attracted the attention of top companies, including Chinese tech giant Tencent, Sogou Inc., Robam Group and CDH Investments, which have made the strategic move to join our ownership.