Voice Recognition Service Yunzhisheng Reportedly Received Tens of Millions Dollars In Series A Financing, Released Z Watch

Voice Recognition Service Yunzhisheng Reportedly Received Tens of Millions Dollars In Series A Financing, Released Z Watch

By Emma Lee on October 12, 2013

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Yunzhisheng, a Chinese voice recognition startup, secured tens of millions of dollars from a domestic venture capital, citing people familiar with the matter (report in Chinese). The company kicked off voice recognition public cloud last September, becoming the second domestic company to open up this technology to the public after USTC iFlytek. Baidu followed the suit this August. Yunzhisheng now cooperates with Leshi Super TV, smartwatch inWatch, Smartisan ROMSougou Voice Aid and NetEase’s EasyChat. It also developed voice plug-ins for WeChat. Additionally, Yunzhisheng have already rolled out three independent apps, namely Voice Aid, Yunzhisheng Voice and Yunzhisheng Input method.The accuracy rate of the company’s voice recognition products reached 95%, on par with the technologies developed by arch-rivals of A-share listed USTC iFlytek and Baidu, two deep-pocked giants.

Yunzhisheng aims to launch in-depth cooperation with professional institutions, auto manufacturer, smart furniture and wearable device producers in the future.

Although the source declined to disclose the detail of the funding, this capital injection indeed will level up the entering threshold of voice recognition industry, accelerating its development towards a stage of oligopolistic competition.

Yunzhisheng recently launched a smartwatch Z Watch with a Chinese warble electronics brand Smartdevices. The company integrated its voice recognition technologies into the new product, solving the problems commonly encountered in human-machine interaction and input methods due to the small screen size of smartwatch. The gadget is priced at 699 yuan, much lower than Shanda Geak’s 1,999 yuan (report in Chinese).

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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