BEIJING – Google will take a minority stake in Beijing-based artificial intelligence firm Mobvoi as part of a $75 million fundraising round, the start-up said on Tuesday, as the US search giant tries to rebuild its presence in China.
Mobvoi will maintain a controlling stake, it said in an e-mailed statement. The size of Google's investment was not disclosed. Google's parent company is now named Alphabet Inc (GOOGL.O
The Chinese start-up works on artificial intelligence (AI) voice-controlled software, like that used in Google's Android products for mobile search. Mobvoi previously partnered with the US firm to provide Chinese-language voice search for the latter's Android Wear smartwatch operating system. –Reuters