SenseTime, China’s leading artificial intelligence (AI) company, has successfully raised US$600 million in its Series C round of funding. The Company is partnering with Honda to provide autonomous driving technologies. It has established partnerships with more than 400 leading domestic and overseas enterprises across security, fintech, automobile, retail, smartphone, mobile Internet, and robotics.
Alibaba Group is taking the lead role for this round of funding and other participants include Temasek and Suning. As the Company set a record by raising US$410 million in its series B round of funding last July, it once again sets a new record for venture capital funding in the AI sector.
The capital injection will provide an important impetus to the buildout of SenseTime’s AI platform, advancing the company’s technological innovation and opening up new business opportunities. The Company leads the industry in a range of fields such as facial and image recognition, autonomous driving, medical imaging and deep learning hardware optimization. As to date, it has become China’s largest AI platform company and AI algorithms supplier.