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.