Chinese computer vision startup SenseTime raises $1 billion in Series D funding from SoftBank China at a valuation of $6 billion

Published:
September 10, 2018
Coverage:
Digital Transformation More...
Activities:
Investment
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by Jerrold Wang
Very important

With this round, SenseTime has raised eight rounds of funding totaling to over $2.6 billion. Key investors include SoftBank China, Qualcomm, Alibaba, and Terasek Holdings. Notably, SenseTime raised over $2.2 billion in 2018, lifting its valuation from $3 billion to $6 billion. Although its revenue may not grow at the same pace as its valuation, the company has established a very strong partner portfolio with partners including smart phone manufacturers, app makers, AI chip makers, and smart city developers and is poised for growth. The company was also appointed by the Chinese government to launch a national open AI platform for computer vision technologies, alongside four others launched by Baidu, Alibaba, Tencent, and iFlytek.

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