Alibaba looking to be largest backer of facial recognition firm SenseTime

Bloomberg is reporting that Alibaba is in discussions to invest about $227M USD and become the largest backer of Chinese facial recognition firm SenseTime, according to a person familiar with the matter. The source indicated that Alibaba has no interest in exerting control over the artificial intelligence start-up, but is keen on owning a sizeable stake. SenseTime, valued at more than $2 billion, is backed by Qualcomm. Alibaba is already an investor in Megvii’s Face++, which raised $460 million in

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

Chinese facial recognition firm developing AI to predict crimes

Chinese companies are developing new facial recognition systems that can help law enforcement identify criminals and even potentially predict crimes before they occur, according to a report by Shanghaiist. Equipped with China’s photo ID database and the extensive footage taken from public surveillance cameras, the country’s facial recognition technologies are able to analyze billions of faces and objects to identify people. China’s massive population and lenient privacy laws have made enormous amounts of data available to companies at a low

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

PING AN Tech facial recognition receives high score in latest LFW test results

PING AN Tech achieved a high score in the latest tests conducted by the University of Massachusetts’ facial recognition technology benchmark Labeled Faces in the Wild (LFW), scoring a face recognition ratio of 0.9960+/-0.0031. The company has been developing the face recognition technology over the past three years, with its business units repeatedly using the application. PING AN Tech’s 13 professional companies and 55 partners all tested the application, including Ping An iLoan 2.0, Ping An Life Insurance, and Shenzhen