SHENZHEN, China, June 9, 2020
SHENZHEN, China, June 9, 2020 /PRNewswire/ -- QuadTalent, a digital transformation solution provider, has closed a US$21m Series-A financing led by Gaorong Capital, with an estimated post-money valuation close to US$200m. QuadTalent was founded in August 2019 by Dr. Wanli Min, former Alibaba Cloud Chief Machine Intelligence Scientist. The company provides value-oriented data technology and digital transformation solutions to enterprise clients in socially critical industries.
Min holds a Ph.D. in Statistics from the University of Chicago and graduated from Gifted Youth Program from the University of Science and Technology of China at the age of 19. Prior to founding QuadTalent, he held senior research and management positions at renowned tech firms and research institutions including IBM, Google and Alibaba. Last year in June, Min founded a tech-intrinsic private equity fund, North Summit Capital. The fund and QuadTalent closely collaborate under the "tech + capital" model, where the two explore and discover value-creation potential in data and value-intensive traditional industries to create investment opportunities.
Unlike typical B2B SaaS (Software-as-a-Service) products offering generic functionalities, QuadTalent tailor cutting-edge technology solutions to tackle high-impact use cases where AI algorithms and cloud computing help exploit data assets to unleash substantial value. To deliver such impact, QuadTalent provides immersive 'B4B Solution-as-a-Service' offerings encompassing digital transformation consulting and implementation, aligning strategic priorities of businesses with value-oriented technology milestones and roadmap.
Since 2015, QuadTalent's core team had successfully delivered over 100 digital transformation projects across 8 industries, helping clients generate several billions of RMB in revenue. Leveraging on those extensive experience, QuadTalent has already been scaling innovative digital solutions in industries including manufacturing, retail, smart city, critical infrastructure and logistics. The company also looks to establish a presence beyond China and has been in active client discussions in Europe, the Middle East and APAC. Min said, "In the past decade, numerous technology-driven innovation emerged in China, spearheading economic growth and job creation across the country. It's promising for those breakthrough applications to alleviate more countries from post-pandemic recession.'
So far, QuadTalent's founding team has assembled a squad of industry-leading experts in technology and applied research. The Chief Technology Officer has 20 years of platform architecture experience, during which he architected Alibaba's e-commerce platform. The Chief Data Officer is a Big Data and AI application expert with a decade of experience steering digital transformation initiatives and delivering data-driven intelligent solutions across industries. The Chief Algorithm Scientist holds a PhD in operational research and optimization from Imperial College London. In her previous position, she led an R&D team for a retail business to optimize supply chain automatically with AI, saving millions on operational cost.
Gaorong's commitment to QuadTalent's Series A reflects the capital market's increasing interest in technology penetration to traditional industries. "Gaorong Capital has a firm grasp of industry trends and extensive cross-sector experience," said Min. "With a shared vision and ideology, our collaboration comes naturally."
Mr. Bin Yue, co-founder and Managing Partner from Gaorong commented, "Science and technology is a pivotal driving force of productivity growth and society advancement. We believe QuadTalent's is well set-up to deliver on the promise – its founding team possesses industry-leading experience and indisputable technology advantages. We respect founding teams who are courageous enough to forage the No Man's Zone. Therefore, we are willing companions on their quest to bring a profound impact on the industries and our community."
This investment also brings a much-needed shed of optimism on the traditional industry drowning in dooms day pessimism – as world-class talents and resources shift from Silicon Valley and Wall Street to the farmland, the production line and the highways, so does hope.
QuadTalent, the digital transformation solutions provider, was founded in August, 2019 to spearhead the penetration of data and digital technology into data-intensive traditional industries covering agriculture, manufacturing, retail, logistics and healthcare. The firm provides immersive 'Solution-as-a-Service' offerings covering digital strategy consulting all the way to implementation, productizing and deploying data and AI-driven applications to drive tangible value creation. Distilled from over 100+ digital transformation projects spanning various industries, QuadTalent's proprietary DT methodology provides a strong guardrail for transformation initiatives across sectors. With scalable architect scaffolded with highly-reusable modules, QuadTalent's Intelligent Operating System supports rapid customized delivery while ensuring consistently high quality.
Dr. Wanli Min Bio
Founder and CEO of North Summit Capital and QuadTalent Technology, Dr. Min is a leading expert in industrial intelligence and business innovations powered by data technology and mathematics. He pioneers a 'technology + capital' strategy to accelerate digital transformation in various industries ranging from e-commerce to manufacturing and smart city.
Dr. Min received a Ph.D. in statistics from The University of Chicago and B.S from the University of Science & Technology of China. His research area includes probability, stochastic process, time series analysis, machine learning, smart traffic and signal processing. He served as a researcher at IBM T.J. Watson Research Center, IBM Singapore, and Google before joining Alibaba in 2013. Later as Chief Machine Intelligence Scientist for Alibaba Cloud, Dr. Min took charge R&D in the data intelligence solutions. In 2017, Dr. Min was named by Forbes as a leading technologist driving China's AI revolution and also appointed to the advisory committee of the next-generation AI strategy under China's Ministry of Science and Technology.
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