4Paradigm raises $700M in series D round

Artificial intelligence company Shenzhen Qianhai 4Paradigm Data Technology Co. Ltd., or 4Paradigm, raised $700 million in a series D funding round led by Boyu Capital Consultancy Co. Ltd., Primavera Capital Group and HOPU Jinghua (Beijing) Investment Consultancy Co. Ltd.

Other participating institutional investors included Sequoia Capital Operations LLC, Goldman Sachs Group Inc., Jinyi Capital, FountainVest Partners, China-UAE Joint Investment Fund, Mubadala Investment Co. PJSC., CDB Capital, China Reform Holdings, JIC TECH-INV, CSC Financial and Haitong Securities.

The company will use the investment to support its enterprise-grade AI-based digital services.