Megvii gives a digital meaning to face-reading

Megvii Technology Inc, an internet startup focused on face recognition technology, is planning to expand the application into the financial and security sectors.

Its core product Face++, which was launched in 2012 as China's first cloud-based facial recognition platform, offers three core services including detection, recognition and analysis.

The company has finished a $100 million fundraising from investors, including CCB International Holdings Ltd and Foxconn Technology Group. Investors in the latest round also included some that participated in previous funding.