Face++, a China-based facial recognition technology producer, has secured $100m in series C funding from investors including contract manufacturer Foxconn Technology Group, China Money Network reported today.
CCB International Holdings, an investment arm of financial services firm China Construction Bank, and unnamed existing investors also participated in the round.
Foxconn’s commitment for a total of $20m was first revealed in November 2016.
Founded in 2012, Face++ has developed a facial detection and recognition API that it makes available for free to developers and enterprises. The company’s clients include payment processing platform Ant Financial and dating platform Jiayuan.
The money will go towards further development of the technology and will support Face++’s expansion in the financial, securities, smart cities and robotics industries.
In May 2015, Innovation Works and Qiming Venture Partners supported a $25m series B+ round. Qiming had earlier taken part in a $22m series B round alongside Sinovation Ventures in 2014.
Face++ received an angel investment of undisclosed size from Legend Star, a steed-stage investment vehicle of conglomerate Legend Holdings, before adding a series A round of undisclosed size from Sinovation Ventures in 2013.