Tencent Tech, 7/11/17
Beijing-based computer vision and AI technology developer SenseTime Technology Development recently announced completion of USD 410 mln in Series B funding.
SenseTime said that following the funding round, it will continue to expand applications of its self-developed AI technology, including working with a large OEM manufacturing on a driverless vehicle project, and developing its operations in areas related to computer vision such as smart medical treatments.
According to the company's website, the USD 410 mln Series B funding round was completed in two separate stages: B1 and B2. The B1 round was led by investment firm CDH Fund. The B2 round was led by Sailing Capital with participation by nearly 20 investment institutions and strategic partners including: China International Capital Corporation, Costone Venture Capital, China Merchants Securities International (6099.HK, 600999.SH), China Renaissance Private Equity Fund, Morningside Ventures, Guangji Capital, B&D Capital, Zhongping Capital, Orient Securities Capital Investment, Huarong International Financial Holdings (0993.HK), Orient International Enterprise (600278.SH), TCL Capital, Infore Holding, and private investor Liang Botao.
Editor's Note: Today's announcement includes both the USD 120 mln funding announced in December last year, and the USD 60 mln funding round announced in April this year. For more information on these two rounds, please see "Computer Vision, AI Technology Firm 'SenseTime' Raises USD 120 Mln Series B," MD 12/14/16 and "Computer Vision and AI Technology Firm 'SenseTime' Wins USD 60 Mln Funding," MD 4/20/17 issues.
Keywords: artificial intelligence 6099.HK 600999.SH Zhongping Huarong International 0993.HK TCL Capital Infore Liang Botao VC funding China Merchants Securities China Renaissance Morningside Series B Orient Securities Orient International Enterprise 600278.SH Sailing Capital Costone driverless vehicle B&D Capital SenseTime Guangji China International Capital Corp CDH Investments