Hong Kong – November 20th, 2017 – Fano Labs, a Hong Kong based artificial intelligence (AI) startup specializing in speech and natural language processing (NLP) technologies, has raised a Series Pre-A round led by Horizons Ventures. The size of the deal was undisclosed.
Fano Labs was co-founded in 2015 by Dr. Miles Wen, a PhD graduate from the University of Hong Kong (HKU) and a former Fulbright Scholar at University of California, Berkeley and Prof. Victor O.K. Li, BBS; ScD (MIT), Chair of Information Engineering and Head of the Department of Electrical and Electronic Engineering at HKU. Prior to this round, the company has been backed by angel investors, HKU, Hong Kong Science Park (HKSTP), Innovation and Technology Commission of HKSAR, and Zeroth.ai.
With Fano Labs’ technical focus in Chinese dialects processing and analysis, the funds raised will fuel the company’s expansion into the billion-dollar Chinese call center industry, where Chinese consumer-facing enterprises require all calls at call centers to be recorded, but only a small percentage of these calls are reviewed. Many of these calls are in various Chinese dialects, a hugely underserved market that Fano Labs intends to serve by having its proprietary AI system listen to all these recorded phone calls, analyze them and provide managers with valuable business intelligence. This would enable companies to have better quality control over their call centers and, at the same time, save them thousands of manager hours every year. As of today, the company has already developed speech and NLP technologies for Cantonese and Sichuanese, in addition to English and Mandarin, and signed some of Asia’s largest enterprises, including property developers, utility companies and telecommunication companies.
This is the first company that Horizons Ventures has invested in HK.
About Fano Labs Limited
Fano Labs is a Hong Kong-based artificial intelligence startup specializing in speech recognition and natural language processing technologies. With the technical focus in Chinese dialects processing and analysis, Fano Labs helps enterprises conduct quality assurance and data mining in their call centers. Fano Labs is a spin-off from University of Hong Kong and operates both in Hong Kong and China.
For more information, please visit fano.ai or contact Dr. Miles Wen (firstname.lastname@example.org, +852 3543 1189)
About Horizons Ventures
Horizons Ventures, the private investment arm of Mr. Li Ka-shing, is a leading investor in some of the world’s most innovative companies and disruptive technologies, including Facebook, Spotify, Impossible Foods, Improbable, Zoom, Blockstream, Soul Machines and ChromaDex.
For more information, please visit http://horizonsventures.com/