Cloudwalk (SHA: 688327) is a computer vision company. It offers a range of hardware and software-based technological solutions such as video structuring, face recognition, object detection, voice technology, and more. It serves the financial, public security, and aviation sectors. The company was founded in 2015 and is based in Pudong, China.
Research containing Cloudwalk
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CB Insights Intelligence Analysts have mentioned Cloudwalk in 1 CB Insights research brief, most recently on May 24, 2023.
Expert Collections containing Cloudwalk
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Cloudwalk is included in 2 Expert Collections, including Smart Cities.
This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.
Latest Cloudwalk News
May 18, 2023
A fast and furious influx of new companies is changing the investing landscape for fund managers in China. 18 May 2023, 8:02 AM IST 18 May 2023, 8:02 AM IST WhatsApp An IPO sign. (Photographer: Cyril Marcilhacy/Bloomberg) (Bloomberg Opinion) -- China can claim victory over the US in one area. It is now dominating the global initial public offerings market. (Bloomberg Opinion) -- China can claim victory over the US in one area. It is now dominating the global initial public offerings market. The number of US IPOs has plunged this year, as Wall Street grapples with a regional bank crisis and a debt ceiling standoff in Washington. Meanwhile, companies have secured more than $25 billion across over 100 deals in mainland China year-to-date. Businesses sanctioned by the US became market darlings. Hong Kong-listed China Mobile Ltd., for instance, morphed into the country’s most valuable company last month after a 56 billion yuan ($8 billion) offering in Shanghai in late 2021. In recent years, Beijing has implemented a slew of reforms to make it easier for innovative manufacturers to go public. In 2019, the government launched a new Nasdaq-style tech board in Shanghai, ambitiously calling it the STAR market. Earlier this year, the securities watchdog rolled out a registration-based listing mechanism to all domestic stock exchanges. At first glance, the outcome is impressive. Since 2019, close to 900 industrial and tech startups have gone public, raising more than $130 billion. Manufacturing firms now account for over half of the mainland’s market cap and for 60% to 70% of its trading volume. This is a welcome development, especially when the US is escalating its year-long economic campaign, moving from export restrictions to possible investment curbs. China needs a healthy place where startups can raise cash. On the other hand, the fast and furious influx of new IPOs is also changing the nature of the country’s $10.6 trillion stock market. With so many small and highly specialized firms emerging, asset managers do not have enough resources to do proper due diligence. An equity market that was finally making progress with institutional investors is once again dominated by retail traders. Among the 1,500-plus firms that have gone public since the launch of the STAR board four years ago, less than 60% have analyst coverage, according to data compiled by Bloomberg. About 70% of mutual fund holdings still reside with the so-called main board, dominated by financials and state-owned enterprises. STAR companies get only about 9% of money managers’ asset allocations. This opens the door to speculative trades fueled by social media frenzy. Consider CloudWalk Technology Co., which the US blacklisted in late 2021 for being “part of the Chinese military-industrial complex.” In May 2022, the face-recognition technology provider raised 1.7 billion yuan on STAR, with one-third of its IPO shares purchased by state-backed strategic investors including the Shanghai government. Trading in CloudWalk has been brisk this year, but not because of its surveillance business. The company was hyped as one of the “AI four little dragons,” even though it hardly generates any revenue from this field. Its stock gained 141%, despite a 79% tumble in first-quarter sales. CloudWalk certainly did its part to fuel the frenzy. On April 26, it announced a private placement plan to raise 3.6 billion yuan — more than twice the amount of its IPO proceeds — that will go toward AI research. On May 8, it said a new AI-based operation will be launched this month, to be used in smart finance and transportation. There is very little sell-side research on this $3.9 billion market-cap company. In a retail-driven market, a company does not have to use IPO proceeds for their intended purposes. And meme-stock pickers may not even mind, as long as the management talks up the hottest trends. President Xi Jinping likes to tell his comrades to retain their “original intent” and not forget why the Communist Party was established in the first place, enforcing this mandate with harsh anti-corruption probes. But how many companies that have gone public in recent years are doing what they had promised to do? China’s sizzling IPO market is not exactly healthy. More From Bloomberg Opinion:
Cloudwalk Frequently Asked Questions (FAQ)
When was Cloudwalk founded?
Cloudwalk was founded in 2015.
Where is Cloudwalk's headquarters?
Cloudwalk's headquarters is located at Building 11, Zhangjiang Artificial Intelligence Island, Lane 55, Chuanhe Road, Pudong New Area, Pudong.
What is Cloudwalk's latest funding round?
Cloudwalk's latest funding round is IPO.
How much did Cloudwalk raise?
Cloudwalk raised a total of $778.82M.
Who are the investors of Cloudwalk?
Investors of Cloudwalk include Haier Capital, China Internet Investment Fund, Industrial and Commercial Bank of China, Nansha Financial Holding, Sun Rock Capital and 35 more.
Who are Cloudwalk's competitors?
Competitors of Cloudwalk include SenseTime and 5 more.
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