(BEIJING, June 29, 2019) – Today, Megvii Technology Limited was named by MIT Technology Review as one of the 50 Smartest Companies (MIT TR50) in 2019, in recognition of the company’s unparalleled innovation capabilities and ability to commercialize and empower the IoT industry with AI. This marks the fifth time Megvii has been included in rankings compiled by MIT Technology Review, including the 50 Smartest Companies 2017, 10 Breakthrough Technologies (MIT TR10), and twice in MIT’s 35 Innovators Under 35. 

To date, Megvii has been recognized by MIT Technology Review in five of its renowned rankings.

Xie Yinan, Megvii's Vice President, at the MIT TR 50 Award Ceremony

At the MIT TR50 Award Ceremony, Xie Yinan, Vice President of Megvii, thanked MIT Technology Review for the recognition and shared an overview of Megvii’s capabilities and innovative technologies in the field of AIoT.

"In an increasingly interconnected world, technology companies that focus solely on either hardware or software will face challenges," Xie Yinan said. "The integration of software, hardware and algorithms, as well as working with partners within the AI ecosystem, will guide the future development of our industry.” 

Megvii will continue to leverage the power of technology and innovation to empower industry, optimize paths to commercialize technology, and focus on building a vibrant IoT ecosystem capable of supporting tens of billions of intelligent devices.

About Megvii Technology Limited

Megvii is a world-class AI company with core competencies in deep learning. Founded in Beijing in 2011 by Yin Qi, Tang Wenbin and Yang Mu, three Tsinghua University graduates who studied under the Turing-prize winning Chinese computer scientist and computational theorist Andrew Chi-Chih Yao, Megvii is a pioneer in applying AI technology and computer vision algorithms to Internet of Things (IoT) use cases. The Company’s mission is to power humanity with AI. 

Megvii’s first commercialized AI product was a facial recognition solution. The Company has developed its proprietary deep learning framework Brain++, which functions as a unified underlying architecture and provides critical support tailored for the Company’s algorithm training and model improvement processes. 

Leveraging its strong software-hardware integration capabilities, Megvii offers full stack solutions to its customers, and has achieved leading positions in several key vertical markets, including personal IoT, city IoT and supply chain IoT. Megvii is building an AI infrastructure to connect and empower various IoT devices, to solve real life problems and pain points encountered by customers in sectors including fintech, transportation, logistics and others. Megvii is dedicated to helping customers achieve specific goals such as user authentication and fraud reduction, traffic optimization, and labor efficiency gains. 

Headquartered in Beijing with over 2,000 employees, Megvii maintains four research and development centers in China.

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