Kinzon Capital, a subsidiary of conglomerate Fosun Group, has co-led a RMB100m ($14m) series A round for China-based facial recognition technology startup Shenxing Tech, China Money Network has reported.
The round was co-led with venture capital firm Matrix Partners China and included Zero2IPO Ventures, a subsidiary of financial data provider Zero2IPO Group, and undisclosed additional investors.
Founded in January 2016, Shenxing is developing technology that can recognise faces in different light environments. Its customers include Aviation Industry Corporation of China, PetroChina Company and China Railway Construction.