We notice you’re visiting us from a region where we have a local version of Inc.com. The artificial intelligence industry just recorded its largest funding round in history.
SenseTime, a Chinese startup that specializes in facial recognition, announced Monday that it has raised $600 million in Series C funding–making it the most highly valued artificial intelligence startup in the world. The company reportedly has a valuation higher than $4 billion, according to Bloomberg. Chinese e-commerce giant Alibaba Group led the round. SenseTime provides facial-recognition technology used in various fields from security to fintech.
The three-year-old startup’s biggest contribution may be to the Chinese government’s surveillance: the software helps process data captured by China’s 170 million CCTV cameras and is built into more than 100 million mobile devices. The tech is also used in checkout-less lanes and customer analysis systems. According to Bloomberg, SenseTime is developing a service that will parse data from thousands of live camera feeds.
“SenseTime is doing pioneering work in artificial intelligence. We are especially impressed by their R&D capabilities in deep learning and visual computing Read more from inc.com…
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