China’s AI startup Yitu Technology secures $200m in Series C+

Artificial intelligence photo by Reuters

Shanghai-based artificial intelligence (AI) startup Yitu Technology has raised a $200-million Series C+ round from ICBC International Holdings, SPDB International and Gaocheng Capital.

The startup specializes 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, it 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.

This January, Yitu Technology opened an office in Singapore to serve as its regional hub in Southeast Asia.

Chinese AI startup SenseTime, which specializes in facial recognition, raised a $620 million Series C+ round last month from Fidelity International, giving it a valuation of over $4.5 billion.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.