01.AI Secures Hundreds of Millions of Yuan Investment from Hangzhou State-Owned Capital, Headquarters to Relocate to Linping District, Hangzhou
On October 28, 01.AI reached a cooperation agreement with Hangzhou city and Linping District, securing a combined investment of hundreds of millions of yuan from state-owned capital at the municipal and district levels. Its headquarters will be established in Linping District, Hangzhou, where it will build an industrial AI transformation base. The company has shifted from large model R&D to implementing enterprise industrial AI, developing its own Wance AI platform and launching agent products such as Boss AI, Sales Champion AI, and Investment Officer AI. The two sides plan to implement AI projects in scenarios including business management, production operations, and supply chain collaboration.
Body · AI translation
Smart East October 30 news: Today, 01.AI announced that on October 28 it reached a cooperation agreement with Hangzhou city and Hangzhou's Linping district, under which municipal and district-level state-owned capital jointly invested a total of several hundred million yuan in 01.AI. At the same time, 01.AI's headquarters will be located in Linping district, Hangzhou, to build an industrial AI transformation base.
01.AI was founded in Beijing in 2023 by Dr. Kai-Fu Lee. As one of the early "six little dragons of large models," the company's development direction has shifted from frontier large-model R&D to enterprise-oriented industrial AI implementation, focusing on bringing large-model capabilities into corporate operations.
According to the business inquiry platform Tianyancha, since its founding, 01.AI has completed a total of three rounds of financing. In November 2023, 01.AI completed a new round of financing, reaching a valuation of $1 billion and joining the ranks of unicorns; in August 2024, it completed another round of financing worth several hundred million dollars. However, neither of these two rounds was officially announced; both came from media reports.
▲01.AI financing rounds (Source: Tianyancha)
At present, 01.AI has gradually built up a set of enterprise AI products, covering foundation large models, enterprise Ontology, multi-agent applications, and supporting deployment capabilities.
Its self-developed Wance AI platform relies on enterprise Ontology to connect internal enterprise data, knowledge, business processes, and organizational structure, and combines dynamic context and multi-agent collaboration mechanisms to provide support for enterprise operations scenarios.
Based on the Wance AI platform, 01.AI has launched a number of agent products for business decision-making and business growth, including Boss AI, Top Sales AI, and Investment Officer AI; it has also set up forward-deployed engineer (FDE) positions, assigning personnel to work on the front lines of enterprises to connect with business needs and complete technology implementation.
Hangzhou is also home to DeepSeek and Alibaba. The local area is advancing artificial intelligence industry development, with the goal of building a domestic AI innovation highland and promoting the integration of AI technology and industry.
Under this cooperation plan, Hangzhou will provide local industrial scenario resources, and 01.AI will provide enterprise AI technology, products, and delivery capabilities. The two sides plan to implement AI projects in core enterprise business scenarios such as business management, production operations, and supply chain collaboration, and to explore a replicable model for industrial AI transformation.