The Bahrain-based fund manager, Investcorp has invested in Terminus Technologies, an artificial intelligence (AI) city and service provider in China.
The fund management company has been investing in tech-based businesses that are supported by everlasting secular growth trends like AI, for the past 20 years.
Established in 2015, Terminus Technologies has been developing and creating its own space in the field of AI and the Internet of Things (IoT) in China.
Earlier in April, Terminus announced its first AI CITY project to start construction in Chongqing, a southwestern city of China. Another announcement was made in July by the company stating its Premier Partnership for Expo 2020 Dubai.
Presently, Terminus is promoting the construction of a worldwide AI CITY for which global cities like Dubai and Shenyang have already agreed.
The Co-Chief Executive Officer of Investcorp, Hazem Ben-Gacem says, “China and its respective enterprise have accumulated considerable experience in AIoT, resulting in the number of companies growing at a scale never heard of before.”
Mr. Ben-Gacem also stated that Investcorp has high confidence in the AI economy of China and the Terminus’ development to become one among top-tier-hi-tech companies of the world proves the capability of the company to become a reason for the digital transformation around the globe.
Victor Ai, founder and CEO of Terminus Technologies says that the world is in the middle of a change from the era of the internet to the era of intelligence. This change is about to happen and will affect the global economy on a long term basis and the upcoming decade will mark the era of ‘intelligent economies’. Terminus wants to become the major force behind such a transformation of global cities and is working towards this vision.
Investcorp has a successful past of investing European technology sector. It has invested multi-billion dollars in the tech business of the US, Europe and Asia from 2001 onwards