SenseTime snags $600m from Alibaba, becomes world's most valuable AI startup

SenseTime snags $600m from Alibaba, becomes world's most valuable AI startup

A "smart departure" self-service machine scans a woman's face to authenticate her identity using face recognition technology, during a demonstration by the Immigration Department at Hong Kong Airport in Hong Kong, China October 9, 2017. Picture taken October 9, 2017. REUTERS/Venus Wu

SenseTime Group Ltd. has raised $600 million from Alibaba Group Holding Ltd. and other investors at a valuation of more than $3 billion, becoming the world’s most valuable artificial intelligence startup.

The company, which specializes in systems that analyze faces and images on an enormous scale, said it closed a Series C round in recent months in which Singaporean state investment firm Temasek Holdings Pte and retailer Suning.com Co. also participated. SenseTime didn’t outline individual investments, but Alibaba was said to have sought the biggest stake in the three-year-old startup.

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