An AI startup founded by the co-founder of Meituan, Wang Huiwen, has attained unicorn status by raising a whopping $230 million in just 100 days. The startup, known as Light Year AI, has established itself as a leading player in the industry without unveiling any new products yet. The financing round was led by Source Code Capital with an $80 million investment, followed by Tencent, 5Y Capital, and Kuaishou founder Su Hua’s participation. Tencent continued its support for AI ventures with a $50 million investment, while Su Hua and 5Y Capital contributed $40 million each.
Despite not releasing any new products, Light Year AI has strategically positioned itself for market entry, fundraising, and exploring mergers and acquisitions in the industry. The startup’s rapid rise to unicorn valuation reflects its significant influence in the capital market. This reflects the growing interest in AI technology and its promising potential in the global market.
Light Year AI’s co-founder, Wang Huiwen, is also known as the driving force behind Meituan, the leading food delivery service in China. This latest accomplishment from Wang Huiwen and the success of Light Year AI signifies his expertise in recognizing potential opportunities in the tech industry.
This latest investment is an indication of a bright future for Light Year AI as well as the AI industry as a whole. The company’s approach to market entry, fundraising, and exploring mergers and acquisitions without any released products has proven to be successful. As AI technology continues to evolve and become more integrated into our daily lives, Light Year AI’s investment journey is one to watch.
