China: SenseTime co-leads $199m round in videotech startup Moviebook

Photo: SenseTime Group

Chinese video technology startup Beijing Moviebook Technology Corp has secured RMB 1.36 billion ($199 million) in a Series D funding round co-led by Chinese AI firm SenseTime and SB China Venture Capital (SBCVC).

According to reports by 36Kr and China Money Network, the funding round was joined by Qianhai Wutong M&A Fund, PAC Partners, Chinese media group Oriental Pearl, and Lang Sheng Investment.

Based in Beijing, Moviebook focuses on video recognition and online video technology. It also offers data collection, management and analysis services to advertisers.

The company was quoted as saying that it will use the proceeds of the latest funding round for smart image technology optimization and to expand its research and development team.

The latest funding round comes a year after Moviebook raised RMB 500 million ($73 million) in a Series C+ round led by Primavera Capital Group. It also raised an undisclosed amount in November 2016 in a New Horizon Capital-led Series C round.

SenseTime, which co-led the funding round, raised $620 million for its Series C+ round in May, hitting a valuation of $4.5 billion. Its investors include Alibaba, Tiger Global, Qualcomm Ventures, and Silver Lake Partners.

SenseTime, a four-year-old startup, makes systems that analyze faces and images on a huge scale and contributes to China’s vast surveillance system. The company is one of a host of local startups at the forefront of Beijing’s goal of making the country the world leader in AI by 2030.

Also Read:

SoftBank fund plans $1b investment in Chinese AI giant SenseTime

Chinese AI unicorn Sensetime leads $75m Series B for Helian Health

 

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.