FB pixel

Face biometrics startups lead AI sector in attracting major investment

 

Facial recognition companies are leaders among the ranks of artificial intelligence startups attracting major investments, with SenseTime totaling $1.63 billion in total funding, according to a CB Insights study reported by the Wall Street Journal.

The study covers 100 AI startups seen as most promising, and includes many businesses focused on automating robotic processes, as well as biometrics companies such as SenseTime, Megvii, and YITU Technology.

With its $1.63 billion, SenseTime tops the list for the most investment, after Alibaba led a funding round in April, 2018. Since then, the company has reportedly held talks with SoftBank Group’s investment fund, the world’s largest technology investor, and Alibaba has poured money into Megvii. SenseTime’s current projects include a partnership with the municipal government of Shanghai to analyze vehicle and pedestrian information to reduce traffic, and a partnership with Honda for autonomous driving.

Megvii has raised $608 million so far, according to the report, and is also in talks with Alibaba for a potential $500 million in further funding. YITU has raised $355.1 million. Megvii technology is used for customer payments by Alipay, while 20,000 ATMs use YITU facial recognition for cardless withdrawals.

Article Topics

 |   |   |   |   |   |   |   | 

Latest Biometrics News

 

‘Interoperable but not identical’: applying ID standards across diverse communities

Exchanging knowledge and experiences with identity systems to improve future ID projects is central to the concept of ID4Africa’s mission….

 

Biometrics providers and credentials level up with new capabilities

Biometrics is a fast-evolving field about persistence, so new versions of major digital identity providers and biometric technology companies naturally…

 

Alan Goode offers insights on booming transitional IDV market on BU Podcast

Technology is transforming identity verification. According to Alan Goode of Goode Intelligence, by 2030, digital identity verification will pass traditional…

 

Share less data in more places: inching towards decentralized digital ID for travel

The travel industry is slowly shifting to a more decentralized model of digital identity. This was one of the key…

 

Clearview takes fresh legal hits over Canada class action, UK fine

Few biometrics companies have taken a bigger regulatory and legal beating than Clearview AI. It has already been a rough…

 

Mexico makes biometric identifier mandatory for all citizens

Mexico has officially introduced a digital identification system by signing a law that turned the previously optional biometric-based citizen code…

Comments

Leave a Reply

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

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events