AI facial recognition startup SenseTime secures investment from Qualcomm

Chinese artificial intelligence facial recognition startup SenseTime Group has secured an investment from Qualcomm as part of a $500 million funding round that will close later this year, according to a Reuters report. Qualcomm confirmed the investment in a statement. The firms did not disclose the size of the investment. In July, the startup raised $410 million from Chinese investors, which, at the time, was reportedly the largest single financing round for any artificial intelligence company. Earlier this year, it

IDEX hosting ‘Investor Update’ this week

IDEX will host an Investor Update in Oslo on Thursday, November 9. CEO Dr Hemant Mardia and CFO Henrik Knudtzon will present highlights from the company’s Capital Markets Day, including strategy, technology, market opportunities and outlook, followed by a Q&A session. The event will be hosted at Felix Conference Centre at Aker Brygge in Oslo and is planned to start at 11:00 am CET to approximately 12:30. Last week, IDEX issued its financial results for Q3 2017, which reported revenues

Alibaba invests US$15B in overseas research hubs for AI, fintech

Alibaba Group Holding Ltd is investing US$15 billion to establish overseas research hubs to work on artificial intelligence (AI), quantum computing and fintech, according to a report by BNN. The Alibaba ‘Damo’ academy will comprise of eight research bases in China, Israel, the United States, Russia and Singapore, for which the company will hire 100 researchers. “The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners,” Jeff

HYPR closes $8 million funding round

HYPR Corp. has closed an $8 million Series A round of funding led by RRE Ventures with existing investors RTP Ventures, Boldstart Ventures, and Mesh Ventures also participating. The Series A round brings total funding to date to $12.8 million and enables HYPR to accelerate deployment of its next-gen security solutions. As part of this funding, industry veteran James Robinson IV of RRE Ventures will join HYPR’s board of directors. HYPR’s decentralized authentication greatly reduces the risk for enterprises of

Onfido raises $30M for AI-based face ID recognition technology

Onfido has raised $30 million for its AI-based identity verification technology, bringing the company’s total amount of raised funds to approximately $60 million, according to a report by Techcrunch. This latest round was led by new investor Crane Venture Partners, with participation from Microsoft Ventures, Salesforce Ventures and other unnamed but existing backers. The company’s technology helps websites verify users’ identities using a photo-based identity document, a selfie and artificial intelligence algorithms. Onfido, which is not disclosing its valuation in

ImageWare Systems completes $11M registered direct offering

ImageWare Systems, Inc. has completed an $11 million registered direct offering to certain accredited investors after selling an aggregate of 11,000 shares of new Series A Preferred Stock at $1,000 per share. The company expects the total proceeds to be approximately $10.1 million after accounting for previously advanced cash that was converted into the transaction. ImageWare intends to use the proceeds for general corporate purposes such as marketing, sales and working capital. In addition, the company expects to consolidate $20.6

ForgeRock completes $88M Series D investment round

ForgeRock has completed a $88 million Series D investment round led by Accel with participation from KKR, Meritech Capital Partners and Foundation Capita, which brings the company’s total of raised investments to more than $140 million, according to a report by Techcrunch. The company plans to use the new capital to significantly grow its team, expand the product offering and continue its international expansion with particular attention to China in the coming year. ForgeRock’s identity management platform can be scaled

Ping An to invest $1b on technology R&D with focus on AI

Chinese financial firm Ping An Insurance (Group) Co will make a more than 7.77 billion yuan ($1.16 billion) investment on technology R&D this year, with a particular focus on artificial intelligence (AI), according to a report by China Daily. “We want to build more platforms in finance and healthcare industries this year and in the near future,” said Ericson Chan, CEO of Ping An Technology, a subsidiary and technology arm of Ping An Group. “We will continue to focus on

Chinese facial recognition technology‎ developer raises $410M

SenseTime has completed a US$410 million series B round, in what the Chinese startup claims is the largest private financing rounds ever closed by an artificial intelligence firm, according to a report by China Money Network. Founded in 2014, SenseTime focuses on computer vision and deep learning technologies, providing applications in the areas of face recognition, language recognition, vehicle recognition, object recognition and image processing. The startup said it is now valued at over RMB10 billion (US$1.47 billion). As a

Biometric ID firm AimBrain has closed its $5.1m financing round

London-based biometric identification startup AimBrain has closed its £4 million (US$5.1 million) Series A round, according to a report by B Daily. Founded in 2015 by Andrius Sutas and Alesis Novak, AimBrain’s latest round of funding has been led by BGF Ventures alongside Episode1, Entrepreneur First and angels including Simon Rozas, Chris Mairs and Charles Songhurst. The company will use the funds to grow out its ‘biometrics as a service’ offering, which is primarily targeted at financial services businesses and