SenseTime, a Chinese artificial intelligence company focused on computer vision and deep learning technologies, raised US$410m series B1 B round of financing.
Backers in the round, which closed in July 2017, include CDH Investments, Sailing Capital, China International Capital Corporation, China Everbright Holdings, China Renaissance, and China Merchants Securities.
The company is using the funds to construct AI infrastructure, to expand its product line and explore new verticals such as autonomous driving, intelligent medical treatment, and deep learning computer chips, and strengthen its cooperation with a core set of partners.
Led by co-founder and CEO Dr. Xu Li, SenseTime has just signed a long-term development agreement with Japanese car manufacturer Honda to build smart AI cars with autonomous driving. The partnership will leverage Honda’s vehicle control system with AI algorithms to jointly create an autonomous driving solution.
The two companies will work together to develop robot technology.
SenseTime has powered many industries such as finance, security, smart phone, mobile Internet, robotics, and automobile with core computer vision technologies including face recognition, video analysis, character recognition, and autonomous driving.
The company has more than 400 customers and strategic partners including Qualcomm, NVIDIA, China Mobile, UnionPay, HNA, Huawei, Xiaomi, OPPO, vivo, Weibo, and iFLYTEK and offices in Hong Kong, Beijing, Shenzhen, Shanghai, Chengdu, Hangzhou, Kyoto, and Tokyo.