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AI startup Yitu receives another $100 million in funding

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Arthur Morgan
Jul 18, 2018 05:45
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After closing its $200 million Series C+ funding round in June, Shanghai-based facial recognition firm Yitu Technology has secured another $100 million.

The company’s technology has been deployed for use with the country’s ubiquitous surveillance systems.

According to Yitu’s website, public security bureaus in Xiamen, Wuhan, Suzhou, and Ningbo make use of their Dragonfly Eye identification system.

Additionally, the company provides facial recognition at the country’s borders and in verification systems for the financial sector.

It also offers technologies that enable natural language processing (NLP) and artificial intelligence chips.

The company recent funding rounds have been supported predominantly by banks.

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Arthur Morgan
Jul 18, 2018 05:45
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