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Seven Stars Cloud Group secures funds for adoption of AI, blockchain tech

Private equity fund Advantech Capital Investment II Ltd. backed Seven Stars Cloud Group Inc. with an investment of $12 million.

Seven Stars Cloud Group said Aug. 10 that it also restructured its private placement from GT Dollar Pte. Ltd. to $10 million.

Seven Stars Cloud Group will use the investments to accelerate the adoption of its artificial intelligence and blockchain-based technologies into various business verticals.

Seven Stars Cloud is a global technology company focused on digital asset production and distribution. GT Dollar is a Singapore-based global virtual credit clearing system operator connecting more than 2 million businesses worldwide.