China's PsiBot Hits $1.48 Billion Valuation, Becoming Latest Chinese AI Unicorn

What happened

PsiBot, a Chinese AI startup, is raising close to $100 million at a $1.48 billion valuation led by Chery Automobile and Lens Technology.

Context and impact

PsiBot becomes the latest Chinese AI unicorn, reflecting a robust domestic capital ecosystem for Chinese AI despite US chip export controls.

Details

• Valuation: $1.48 billion
• Round size: close to $100 million
• Investors: Chery Automobile, Lens Technology
• Focus: AI for industrial and automotive applications
• China now has dozens of AI unicorns - the pace is accelerating