Chinese AI marketing company Tec-Do has raised between $50 million and $100 million in a new financing round led by Huatai-General Atlantic, according to a person familiar with the matter.

A statement from the company Thursday confirmed that a new financing round had been led by Huatai-General Atlantic and investors included Forebright Capital, GAC Capital, GSR Ventures and others. It didn't mention the size of the fundraising.

The proceeds will be used to fund AI research and development, product commercialization and global expansion, according to the person.

Founded in 2017, Tec-Do develops AI-powered marketing tools including its Tec-Chi specialized multimodal large language models and Navos marketing multi-agent platform.

Tec-Do has also expanded into AI-native advertising. In July, the company said it became one of the first official technology partners for ChatGPT Ads globally.

The funding comes as Tec-Do moves ahead with plans for an initial public offering in Hong Kong. The company submitted an application to list its shares on the Hong Kong Stock Exchange in February, but the timeline for its IPO remains unclear. CICC and J.P. Morgan are joint sponsors of the offering.