Chinese artificial intelligence company SenseTime has completed a Pre-IPO round of fundraising at the end of last year, valuing it at about $12 billion after the investment, according to Tencent News.
The amount of SenseTime's fundraising is unknown for now, and investors include some insurance funds with state-owned capital background and local government investment platforms, the report said.
SenseTime has raised four rounds of funding in the past seven years, including a $1 billion investment by SoftBank in 2018, when SenseTime was valued at $6 billion after the investment.
This means that SoftBank's investment in SenseTime has doubled on its books.
SenseTime is an artificial intelligence platform that has built a deep learning platform and a supercomputing center. Its artificial intelligence technologies, including face recognition, image recognition, text recognition, medical image recognition, video analysis, driverless and remote sensing.
China's largest AI firm SenseTime said to plan dual listing in HK and mainland
