36 Krypton learned that Jiangsu Fant Technology Co., Ltd. (hereinafter referred to as “Fant Technology”), an AI x AR-based metaverse infrastructure provider, announced that it has completed tens of millions of yuan in Series A financing. This round of financing was invested by China-US Green Fund. Beituo Capital acted as the exclusive financial advisor for this round. Funds will be mainly used for product and solution research and development, market expansion, and sales team expansion.
Fante Technology is an artificial intelligence start-up company that integrates AI, CV, interaction, perception capabilities accumulated over the years with augmented reality (AR) technology, and independently develops a platform-level application for the industrial metaverse-intelligent AI x AR middle platform “Vientiane” provides a general-purpose infrastructure for the full-stack Metaverse application requirements of B-end and G-end users.
36 Krypton has reported on Fant Technology many times before, and this year is an important year of transformation. Following the completion of the Angel round at the beginning of the year, the PreA round invested by Wuxi Xintou Group was completed in the middle of the year. This is the third round of financing obtained by Fant Technology in 2022. At the moment when the primary market is generally cautious and wait-and-see, it highlights the capital’s high recognition of its R&D capabilities and strategic layout.
“Fante brings together the underlying capabilities of various AI and AR to form a middle platform. We call it Vientiane, which means all-encompassing. Vientiane actually separates AI and AR, such as face recognition. , Vehicle recognition, these already familiar modules, adding AR’s global coordinate system conversion, and AR’s exclusive editor, etc.” Fantek CEO Wu Shengyang told 36 Krypton: “We will integrate this module into a complete middle platform and become The foundation of the metaverse can quickly grow various AI x AR-based industry applications and integrate them into specific scenarios to form complete solutions in the fields of public security, emergency command, and finance.
Fante Technology believes that digital intelligence transformation has three important stages: the first is the “local digitalization” stage. In the early stage of digital transformation, local digital perception, collection, storage, etc. are completed through AI capabilities; then the “global digitalization” stage, It brings an intuitive display of digital transformation, and realizes real-time, comprehensive and intuitive grasp of digital results through cutting-edge technologies such as AR, AI, and digital twins.
At present, Fant Technology is in the stage of transition from local digitalization to global digitalization, which is also a necessary stage for moving and modeling from the physical world to the digital world, and leading to analytical intelligence. In the next stage of “analysis and intelligence”, the capabilities of digital transformation will increasingly empower the execution level, and through the four digital closed loops of strategy, strategy, execution, and evaluation, comprehensive digitalization and intelligence will be realized.
Wu Shengyang said: We believe that the underlying logic of digital transformation is to find the core competitiveness indicators of all walks of life, and then help them accelerate the improvement of core competitiveness with digital and intelligent means.
Specific to the level of products and solutions, Fantek Technology provides customers with one-stop AR x AI solutions for application scenarios such as finance, security, emergency response, and smart governance based on its technical base “Vientiane Middle Platform”.
Different from the common AR industry solutions in the market, Wanxiang Zhongtai highlights the generalized underlying empowerment of AI x AR. According to Fante Technology, this can effectively avoid the repeated construction of application terminals in each industry. Like building Lego blocks, it can be spliced efficiently in different business scenarios.
After years of market education, the overseas and domestic AR, AI, and industrial Metaverse markets are about to enter a period of rapid growth. According to IDC’s latest research report, the growth rate of China’s AR/VR market has ranked first in the world in recent years. The report predicts that the compound annual growth rate of China’s AR/VR market will reach 42.2% in 2021-2026. The investment scale will exceed 12 billion US dollars, accounting for 24.4% of the world, and the market size is second only to the United States.
On the market side, Fante Technology has provided solutions for multiple lighthouse customers in the fields of finance, security, and smart governance, and empowered more vertical fields through channel partners and ecological partners. It is reported that in the first year of its establishment, Fant Technology has achieved revenue exceeding 100 million yuan. Since the beginning of this year, despite the impact of various unfavorable factors such as the epidemic, its revenue growth rate has still exceeded expectations.
Fante Technology was established in 2021. The core team mainly comes from Fortune 500 companies such as Sony and Dell. It brings together many professionals with more than ten years of experience in cutting-edge fields such as AI, AR, finance, security, and privacy computing.
Investor comments
Wang Junfeng, vice chairman and CEO of China-US Green Fund, a round A investor, said: The Central Economic Work Conference and the “14th Five-Year Plan for Digital Economy Development” both proposed to focus on the development of digital economic fields such as artificial intelligence. China-US Green Fund It also attaches great importance to investing in strategic emerging industries such as artificial intelligence, big data, smart cities, metaverse, and AR/VR. Relying on its own technical accumulation and advantages, Fante Technology has independently developed the “Vientiane Platform”, which has been implemented in digital finance and other scenarios, and has been widely recognized by customers. We are very optimistic about Fantek’s rapid expansion and application of artificial intelligence, big data and other technologies in the fields of security, emergency response, and smart governance in the future.
Mr. Zhao Zhidong, Chairman of Wuxi Xintou Group, a PreA round investor, said: Since the beginning of 2022, cities across the country have successively released related supporting policies for Metaverse. As one of the first cities in China to establish the Metaverse Innovation Alliance, Wuxi is also actively exploring the field of Metaverse. We believe that, with its strong AI x AR entrepreneurial genes and its deep industry accumulation in the construction of metaverse technology platforms, Fantec can contribute positively to my country’s metaverse construction.
media reports
36Kr Entrepreneurship State Investment China Network
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