<article>Shanghai-based artificial Intelligence (AI) developer <a href="https://www.dealstreetasia.com/tag/Yitu-Technology/">Yitu Technology</a> has raised $100 million from China Industrial Asset Management, according to an announcement.</article>

Shanghai-based artificial Intelligence (AI) developer <a href="https://www.dealstreetasia.com/tag/Yitu-Technology/">Yitu Technology</a> has raised $100 million from China Industrial Asset Management, according to an announcement.
The investment comes after Yitu Technology raised its $200-million Series C+ round from ICBC International Holdings, SPDB International and Gaocheng Capital last month.
Most recent funding rounds into Yitu Technology have been led by mainstream banks. “It is believed that the financial industry experience of new investors can help Yitu Technology expand in the whole industry faster,” the company said.
The AI startup specialises in computer vision, big data and advanced hardware and was co-founded by statistician Zhu Long and Lin Chenxi, a former senior expert at Alibaba Cloud Computing, in 2012. This February, the startup appointed former Google research scientist Lu Hao as its chief innovation officer.
Last year, it raised an RMB 380 million ($55 million) Series C led by Hillhouse Capital and joined by Yunfeng Capital, Sequoia Capital, Banyan Capital (now known as Gaorong Capital) and ZhenFund.
In 2016, Yitu Technology had secured tens of millions of dollars in a Series B round from Yunfeng Capital.  In January this year, Yitu Technology opened an office in Singapore to serve as its regional hub in Southeast Asia.
China has become the most attractive country for AI investment and financing. The market value of China&#8217;s artificial intelligence (AI) industry reached 23.7 billion yuan ($3.5 billion) in 2017, with the growth rate expected to reach 75 per cent in 2018, according to China&#8217;s AI Development Report 2018 released by Tsinghua University.
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<a href="https://www.dealstreetasia.com/stories/china-yitu-technology-99676/">China’s AI startup Yitu Technology secures $200m in Series C+</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/ai-developer-yitu-technology-55m-series-c-hillhouse-capital-72704/">AI developer Yitu Technology gets $55m Series C led by Hillhouse Capital </a>

Shanghai-based artificial Intelligence (AI) developer Yitu Technology has raised $100 million from China Industrial Asset Management.

AI startup Yitu raises $100m from China Industrial Asset Management

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AI startup Yitu raises $100m from China Industrial Asset Management

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