parent company: The venture capital firm, created by Chinese investment fund Legend Star, gave the media an introduction to its work this week, according to Xinhua China. It provided only the briefest of glimpses into its investment portfolio, without disclosing further details on the seed companies, but it was enough to make clear the cutting-edge nature of their technology. Companies working on equipment to deliver parcels to the moon, robots to stock warehouse shelves, and computers capable of acquiring knowledge like a human are among more than 30 startups seeded by Comet Labs since its founding last year. Legend Star is owned by Hong Kong-listed Legend Holdings, which is also the parent company of Chinese PC maker Lenovo. Comet Labs Managing Director Saman Farid said the startups it has backed have managed to secure a combined 40 million U.S. dollars in follow-up funding rounds that have also drawn investors including Google Ventures, Andreessen Horowitz and Y Combinator. "The world has been carried forward by waves of technology, from digitization to the Internet, then mobile Internet and we believe the next wave will be artificial intelligence," said Farid. Comet Labs not only provides funding for startups, but also helps find them clients.
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