Beijing-based AI startup Zhipu  has established a new subsidiary in Hangzhou with registered capital of 20 million yuan (US$2.95 million), according to corporate records on Qichacha.

The new company’s registered business includes oAI software and data processing  services. Qichacha’s records show it is indirectly wholly owned by Zhipu.

Zhipu’s expansion into Hangzhou comes as the city prioritises the digital economy. Core digital economy industries accounted for nearly 29% of its gross domestic product in 2024, alongside local support for AI and robotics companies.

🔗 Source: Security Times

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