Chinese facial recognition technology company SenseTime Group consolidated its reputation as one of the world’s most valuable start-ups on Thursday after announcing it raised $620 million in its second funding round in just two months.
SenseTime had already attracted $600 million in investment capital during its first funding round in April. The company is now valued at over $4.5 billion, reports Reuters.
A statement released by the artificial intelligence company said that the funds would be channelled back into R&D, and for attracting more global talent.
SenseTime, which develops technology that can quickly identify passersby from facial images, has been labelled a hot prospect both for the commercial and public applications of its products. Chinese authorities have already made use of the technology in tracking suspects spotted in public spaces.
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