Alibaba Leads Series A Funding of Facial Recognition Solutions Firm Moredian
iFeng Tech, 1/05/18
Hangzhou-based facial recognition solutions provider Moredian Technology recently announced that it completed RMB 8-digit Series A funding in Q4 2017, led by Chinese internet conglomerate Alibaba Group (NYSE: BABA) with participation by ZJU Joint Innovation Investment.
Moredian Technology was established at the end of 2016 and specializes in facial recognition technology applications and industry solutions. Using an AI-based "cloud + terminal" strategy, including smart cloud and smart interactive terminal components, the company offers offline interactive technologies and online multi-dimensional data services.
In the smart office building domain, Moredian focuses on facial recognition technologies for applications including visitor access control, visitor management, smart welcoming, corridor management, intelligent access control, employee check-in, and dynamic security (video compression, retrieval, and cloud storage). Moredian also plans to partner with Alibaba's team collaboration app DingTalk (Dingding).
In terms of new retail, Moredian uses artificial intelligence technologies and Alibaba's big data platforms for member identification, user profiling, consumption behavior analysis, precision marketing, and smart payment services.
Keywords: M&A ZJU Joint Innovation VC Moredian hardware funding software Series A Alibaba Group BABA facial recognition artificial intelligence
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