SenseTime gets $600m funding

New financing lifts valuation of facial recognition startup to $4.5b

Chinese facial recognition startup SenseTime Group Ltd announced on Monday it has acquired $600 million in its Series C round of fundraising led by e-commerce giant Alibaba Group Holding Ltd, setting a record for venture capital funding in the artificial intelligence sector.

SenseTime will become the world's most valuable artificial intelligence startup, with its valuation exceeding $4.5 billion after the fundraising. Other investors include Temasek Holdings and Suning Commerce Group Co Ltd.