Shanghai-based computer vision company Yitu announced today that it has acquired an additional US$100 million in funding, with China Industrial Asset Management as the sole investor this round.
Yitu is one of China’s four AI unicorns, along with Face++, Cloudwalk and SenseTime. On June 12th, 2018, Yitu completed its C+ Round with US$200 Million from GC Capital, ICBC International, and SPDB International. This new funding raises Yitu‘s valuation to over US$2.3 billion.
Yitu was found in 2012 and focuses on computer vision, natural language processing, knowledge reasoning, intelligent hardware, and robotics. Computer vision is its core technology and has been applied to security, finance, and medical industries. In the latest NIST (National Institute of Standards and Technology) competition, Yitu ranked No.1 among computer vision companies on the FRVT (facial recognition vendor test). Yitu also took first place on the NIST 2017 leaderboard. The FRVT measures automated facial recognition performance using a real world dataset from the US Department of Homeland Security.
Author: Alex Chen | Editor: Michael Sarazen