SenseTime, a China-based facial recognition technology developer backed by real estate conglomerate Dalian Wanda Group, has raised $60m in new funding, China Money Network reported yesterday.
The round was led by Sailing Capital International, a private equity fund launched by state-owned financial holding group Shanghai International Group.
SenseTime specialises in deep learning technology that can recognise faces with a high degree of accuracy but also provides text, vehicle and image recognition services to corporate customers.
The company supplies services to some 300 clients including e-commerce group JD.com, telecommunications firm China Mobile Communication, smartphone producer Xiaomi and communication equipment manufacturer Huawei Technologies.
Dalian Wanda invested in SenseTime’s last round, which closed at $120m in December 2016. Alternative asset management firm CDH Investments led that round, which also featured IDG Capital and StarVC.