MarketWatch : Google Inc. has bet tens of millions of dollars on a Chinese search-and-smartwatch company that marks a rare deal in China and renewed interest in a market it mostly exited in 2010.
Google GOOGL, +0.67% GOOG, +0.59% said Tuesday that it invested in Mobvoi Inc., a Beijing-based artificial-intelligence startup that provides mobile voice search in Chinese. The company has developed a Chinese voice search mobile app with two million accumulated users, a Chinese smartwatch operating system and a smartwatch called Ticwear.
Terms weren’t disclosed. Based on previously disclosed investments in Mobvoi, the amount of Google’s investment is likely to be in the range of $40 million to $45 million. Google and Mobvoi said only that Mobvoi received $75 million in investment since 2012.
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