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HomeNewsStartupsAmid crackdown on tech firms, Chinese tech major Xiaodu closes funding at $5.1 billion valuation

Amid crackdown on tech firms, Chinese tech major Xiaodu closes funding at $5.1 billion valuation

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Xiaodu is the developer of DuerOS, a voice assistant system based on AI that supports television, speakers and other smart home appliances

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Even as the regulatory crackdown on the Chinese tech companies by Beijing continues, the homegrown tech company Inc has announced that its () voice assistant Technology has closed Series B financing at $5.1 billion valuations.

The announcement by Baidu just comes a day after the Chinese government announced to invoke the new data protection law from November 1 later this year. The recent rumbling by the Chinese administration has caused much upheaval in many sectors including e-commerce, ride-hailing and cryptocurrency.

Xiaodu is the developer of DuerOS, a voice assistant system based on AI that supports television, speakers and other smart home appliances. It completed its Series A funding in November 2020 at a post-money valuation of $2.9 billion, said Baidu.

Earlier in March, Baidu said that its AI chip unit Kunlun also completed a round of fundraising, which according to one source with direct knowledge of the matter valued the business at about $2 billion.

Baidu however, clarified that even after the transaction it would remain a majority shareholder in the company.

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Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
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