China's SenseTime secures $620m in latest fundraising, gets valued at $4.5b

Photo: Reuters

SenseTime Group Ltd. has raised $620 million at a valuation of more than $4.5 billion just months after scoring a similar amount from investors led by Alibaba Group Holding Ltd. and Singapore’s state investment firm.

Fidelity International and Silver Lake Partners were among the investors in the latest financing, bringing the total amount raised by the three-year-old image recognition startup in the past six months to more than $1.2 billion and tripling its valuation in under a year. Tiger Global Management, Qualcomm Ventures and Hopu Capital also participated. The latest funding will go toward research and talent acquisition, SenseTime said in a statement Thursday.

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