China-based facial recognition startup SenseTime has closed a $600 million funding deal led by Alibaba, the company confirmed Monday. SenseTime says the deal marks the largest fundraising round by an AI company — ever.
SenseTime’s new funding values the company at $3 billion, according to Bloomberg. SenseTime provides facial recognition tech to companies including Qualcomm, Xiaomi, China Mobile, China Union Pay, JD.com, and more.
SenseTime said the series-C funding also included Singapore state fund Temasek Holdings (Private) Ltd and Chinese e-commerce firm Suning.Com.