AAA Face++ idenitifies investors for $25m

Face++ idenitifies investors for $25m

 Face++, a China-based facial-recognition technology developer backed by conglomerate Legend Holdings, has raised $25m in a series B+ round led by venture capital fund Innovation Works, China Money Network has reported.

The round also included venture capital firm Qiming Venture Partners, according to TechCrunch.

Face++ provides a free facial detection and recognition API to developers and enterprises. E-commerce group Alibaba and Jiayuan, one of China’s biggest dating sites, already use the software, and Face++ plans to employ the funds to develop a new commercial application for the technology.

After an angel investment from Legend Star, a seed-stage investment subsidiary of Legend, Face++ the raised an undisclosed amount of series A funding from Innovation Works in 2013.

The company subsequently secured $22m in the first tranche of the series B round, which also featured Qiming Venture Partners and Innovation Works, in November 2014.

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