Intellifusion, a Chinese AI firm famed for its facial recognition solutions in the public security space, has garnered nearly 1 billion yuan ($141 million) in a Series Pre-IPO round of financing that will back its continued R&D in AI algorithms, AI chips and big data.
The Pre-IPO round was led by Chinese government-linked Guangdong Finance Fund Management, US venture capital firm Walden International, and Forebright Capital Management, a USD-denominated private equity unit of state-owned enterprise China Everbright Group, said Beijing-based ZhenFund in a WeChat post on Friday.
