SenseTime Group, the world’s most valuable artificial-intelligence start-up, is preparing for a new financing round with the China-baned company aiming to raise about $2 billion in fresh funding this year.
Bloomberg reports that SenseTime, which counts Alibaba Group as an investor, raised more than $1.2 billion last year including a round announced in May that valued it at more than $4.5 billion. Bloomberg News reported in July that SoftBank Vision Fund was also seeking to take a nearly $1 billion stake in the company.
SenseTime specialises in systems that analyse faces and images. The start-up has said it experienced 400 per cent growth in past years as it encompassed more industries, from cameras in retailer Suning’s stores to driverless cars for Honda.