China-based identity verification technology developer ReadSense has secured several hundred million renminbi (RMB100m = $14.9m) in a series B round featuring robotic vision technology producer Orbbec according to China Money Network.
Growth equity firm SAIF Partners led the round according to a statement on its WeChat account late last week, and was joined by private equity firm Morale Capital and Shanghai SIIC Fund Management, which forms part of state-owned asset manager Shanghai Industrial Investment Co.
Founded in 2015, ReadSense is developing artificial intelligence (AI)-based deep learning and computer intelligence technology that will be used to analyse images and verify identity in addition to age and gender.
The company’s visual AI products, which include a neural network, vision module technology and AI algorithms, are intended to be embedded on low-power chips.
Although ReadSense has not disclosed details, it raised an undisclosed amount in 2015 and a similarly undisclosed sum the following year, according to China Money Network.
