Chinese state-backed facial recognition major CloudWalk Technology has collected 1.8 billion yuan ($254 million) in a new funding round from domestic investors with close ties to the government, the company told DealStreetAsia on Thursday.
Shanghai-based state-owned investment platform Guosheng Group, and Nansha Financial Holding, a financial services firm launched by the local government in Guangzhou’s Nansha district, invested in the new round. China Internet Investment Fund (CIIF), a 100 billion yuan ($14.09 billion) fund jointly launched by China’s Ministry of Finance and the country’s central internet regulator, also participated in the round.
