CHINESE AI STARTUP SECURES $15 MILLION FUNDING ROUND: AI-powered startup Ahi Fintech has raised a $15 million Series A round led by Chinese VC firm Sinovation Ventures, with participation from Hillhouse Capital, Danhua Capital, and Changfeng Zhiqing Investment. The Beijing-based enterprise, which was founded in 2017, uses AI technology to provide businesses with risk control and anti-fraud services. Combining semi-supervised machine learning technology with AI computing power, Ahi Fintech has developed an AI prediction model and decision engine that provides decision-making platform services for business, including for risk control and internal control compliance. The company has earmarked the proceeds from this round for team expansion and enhancement of its AI risk control capacity, as well as developing its system platform and tools. A key feature in the development of the digital economy has been the opening up new opportunities for criminals, who are using this enabling technology for increasingly sophisticated and organized cyberattacks. Customers of financial institutions (FIs) face growing risks from malicious attacks that look to defraud users’ information for illegal purposes, including money laundering. As a result, there is growing demand for anti-fraud and risk control services like those offered by Ahi Fintech.