Xiao-I, a Chinese cognitive intelligence company focused on conversational AI, filed on Tuesday with the SEC to raise up to $60 million in an initial public offering.
Operating through Shanghai Xiao-i, the company has developed a portfolio of cognitive intelligence technologies for businesses based on natural language processing and AI implementation, primarily providing smart city, software business, and architectural design AI services to its customers. Shanghai Xiao-i's product platforms span conversational AI, knowledge fusion, intelligence voice, and hyperautomation, among other areas.
The Shanghai, China-based company was founded in 2001 and booked $37 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol XI. Xiao-I filed confidentially on July 8, 2022. Prime Number Capital and Guotai Junan Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
