Alibaba Leads $600 Million Funding Round for Chinese AI Firm SenseTime
Chinese artificial intelligence company SenseTime raises $600 million in a Series C funding round led by Alibaba Group. The investment aims to expand the company's global footprint and advance its deep learning platform.
Chinese artificial intelligence company SenseTime secures $600 million during its Series C funding round, which is led by the Alibaba Group with participation from Temasek and Suning. This significant investment arrives less than a year after the company raises $410 million in its Series B round, demonstrating strong and continued confidence from major market players in SenseTime's technology.
Founded in 2014, SenseTime focuses on innovative computer vision and deep learning technologies and operates China’s largest self-developed deep learning supercomputing center. The company establishes itself as the largest supplier of AI algorithms in the country and currently maintains partnerships with more than 400 leading domestic and overseas enterprises across industries like security, fintech, automobiles, and robotics.
SenseTime plans to use the new capital to accelerate the development of a global footprint and expand its AI ecosystem. Executive Vice Chairman of Alibaba Group Joe Tsai praises SenseTime's pioneering work in visual computing, noting that Alibaba already sees tangible benefits from its AI investments and expects this strategic partnership to spark further innovation and create value for society.