Magic Data Tech Raised Tens of Millions in Series B Funding Round

BEIJING, May 19, 2021 /PRNewswire/ -- Earlier this year, Magic Data Tech completed its Series B funding round with tens of millions of RMB. With this financing, Magic Data Tech, a global provider for AI datasets, will extend both in terms of business and scale, and provide better voice data packages and services to the AI market.

Financed by Vantron Capital, the funding will be used to build a global open-source community MagicHub (https://magichub.io/) for AI developers, to design and develop datasets for conversational AI, as well as to research and develop the SaaS platform for data collection and annotation.

Ever since its establishment, Magic Data Tech has been providing clients worldwide with professional AI data solutions, covering data processing solution design, training/testing datasets, data labeling, and the private deployment of data processing systems, among others.

Magic Data Tech provides massive high-quality and reliable training datasets to clients and the AI market, with more than 130,000 hours of speech corpora in type of reading and conversation and others, covering more than 50 languages, such as English, Japanese, Malay, Thai, Indonesian and others.

Our services and products qualifies for the ISO 9001, ISO 27001, CMMI3 criteria, and especially the ISO/IEC 27701: 2019 criteria, which is the latest and most authoritative international risk assessment standards.

Voice data processing is critical to AI and indispensable to human-computer interaction. Vantron Capital focus on investment in technology-relating field like AI and big data. Magic Data Tech, dedicated to voice data industry for years, with elite team members from CAS, Microsoft, Intel, IBM and KPMG, is powerful in technology strength and experienced in management.

For this investment, Xiaoyan ZHANG, partner of Vantron Capital comments: "AI is connected by algorithm and data. As the basis of AI, data is an asset of high value. Voice is more complicated and difficult to be processed compared to image and text. Magic Data Tech provides effective and high-quality data services to the AI industry and clients. We are very pleased to invest in Magic Data team led by Qingqing ZHANG again. We are thrilled to be a companion in their way to excellence."

Previously, Magic Data Tech won Pre Series-A Funding from Future Capital in 2017, Series-A Funding from Ceyuan Ventures and Plum Ventures in 2018, and investment from Ceyuan Ventures and Fuzhuo Investment in 2019.

SOURCE Magic Data Technology