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Coolpad receives $300 Million funding to boost Artificial Intelligence capabilities

Coolpad does not need an introduction. Despite being around in Nepal for less than one year, the smartphone received huge appraisals. The introduction of the first smartphone with dual-camera setup i.e. Coolpad Cool1 in Nepal could be the main reason behind it. But there are lots of praiseworthy specs within the Coolpad smartphones so the brand obviously deserves a due respect. The same smartphone brand has now secured $300m in new funding for building up the Artificial Intelligence capabilities.

Also Read: Coolpad Cool1 Dual Review: A great value proposition

The smartphone brand Coolpad has a remarkable history regarding the innovations. It had been a pioneer to launch the first CDMA-GSM dual-mode, Dual storage, dual-standby smartphone, etc. For its different attempts and successful endeavors, it has managed to garner over 10000+ Patents that are still used all around the globe. Now with a view of pushing the boundaries, Coolpad aims for expansion in Silicon Valley with its attempt to build up its capabilities in artificial intelligence. And to begin the venture, the smartphone brand has received a fresh investment of $300 million from Power Sun Ventures. The investing company is the Shenzhen-based firm, which aspires to top up the game by boosting the AI potentials.

“With this new investment, Coolpad aims to shift its focus from being just in the mobile business to an AI-focused technology company. We plan to expand this by creating AI-focused applications across communications, health, education, and gaming,” said Jiang Chao, CEO of Coolpad Group.

The smartphone brand has currently brought four smartphones in the Nepali market viz. Coolpad Cool1, Coolpad Note 3S, Coolpad Mega 3, Coolpad Mega 2.5D and Coolpad NX1. Focusing to provide noteworthy specs in the mid-range and budget price points, Coolpad aspires to thrive in the smartphone market. And if this AI venture goes as planned, we can expect top-tier capabilities in the smartphones available at mid-range and budget prices.

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