Chinese AI startup SenseTime raises $600 million from Alibaba, others

Jewel Samad | AFP | Getty Images

Alibaba founder Jack Ma waits on the floor at the New York Stock Exchange in New York on September 19, 2014.

SenseTime is a little-known AI firm with a valuation reportedly higher than $3 million. The firm provides facial-recognition technology that can be used for things like bank card verification and counts state-owned telecommunications giant China Mobile, phone maker Huawei and U.S. chipmaker Nvidia among its clients.

The latest round of investment followed a $410 million capital injection SenseTime received in July last year. Its Series C round, the third stage of funding for a company, was also backed by Chinese retailer Suning.com and Singaporean state wealth fund Temasek.

SenseTime has partnered with Honda on autonomous driving and Qualcomm on algorithms and smart technology. Qualcomm has also backed SenseTime in a funding round last year, although the size of the investment has not been disclosed.

SenseTime said it will use the raised capital to expand its AI platform, advance its technological innovation and open up new business opportunities.