SenseTime attracts US$620m
Print Edition
SenseTime, an artificial intelligence startup, said yesterday it raised US$620 million in the latest round of financing as investors ride on the investment wave in AI in China.
The latest investment brings SenseTime’s capital raising to over US$1.6 billion, valuing the startup at over US$4.5 billion and making it the world’s largest and most valuable AI unicorn firm, the company said.
The latest round of financing has lured leading investors such as Fidelity International, Hopu Capital, Silver Lake and Tiger Global. Qualcomm Ventures and other investment firms also took part.
SenseTime’s AI technology and applications are used in smart cities, smartphones, Internet entertainment, automobiles, finance, retail, and other industries.
In 2017, the startup was profitable for the first time. It business revenue has risen over 10-fold so far this year. SenseTime has over 700 strategic partners and clients.
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