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.