FB pixel

AI facial recognition firm CloudWalk Technology raises $75M in Series B funding

 

China-based CloudWalk Technology has raised 500 million yuan ($75 million) in Series B funding as it rapidly expands its operations, China Money Network reports.

The funding round was led by Shunwei Capital, Oriza Holdings and Puhua Capital, with participation from Yuexiu Financial Holdings Group, Shenzhen Qianhai Xingwang Investment Co. and a fund co-invested by Galaxy Holding and Zhangjiang Group, according to the report.

The company also confirmed that in late 2016, it received 2 billion yuan ($301 million) from the Guangzhou government to establish an AI image center there. It also has research facilities in Shanghai, Chongqing and Chengdu, and collaborations with the University of Illinois at Urbana-Champaign (UIUC) and Silicon Valley labs.

CloudWalk provides hardware products such as facial recognition terminals, facial recognition physical access controls, and big data and facial recognition platforms for use by commercial airlines and police departments.

Its big data facial recognition system is used by 23 police departments, and CloudWalk is a service provider for China’s controversial “Police Cloud” effort, which includes the use of AI to attempt to predict crime, as previously reported. Human Rights Watch recently called on China to end the program.

The funding round follows on the heels of investments in facial recognition competitors SenseTime by Qualcomm as part of a pending $500 million funding round, and Face++ developer Megvii, which closed a $460 million Series C funding round.

CloudWalk also announced a deal to provide facial recognition technology to the Bank of China in October.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Biometrics deployments expand protection against fraud and lying about your age

Biometrics are protecting against false claims of all sorts in several of the most-read articles of the past week on…

 

UN says law enforcement should not use biometrics to surveil protestors

Law enforcement agencies should not use biometric technology to categorize, profile or remotely identify individuals during protests, the United Nations…

 

How to explain the EUDI Wallet? Industry and citizens discuss Europe’s digital ID

The European Digital Identity (EUDI) Wallet is well on its way towards becoming a reality. To explain the major impact…

 

Decentralize face authentication for control, stronger protection: Youverse

The implementation method of biometric face authentication has become increasingly important in recent years due to the limitations of traditional…

 

Researchers develop display screens with biometric sensor capabilities

Traditional display screens like those built into smartphones require extra sensors for touch control, ambient light, and fingerprint sensing. These…

 

Meta, porn industry and Kansas governor weigh in on age verification

As Europe mulls how to restrict access to certain content for minors, Meta offers its own solution. Meanwhile, U.S. states…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read From This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events