SoftBank, Alibaba, Qualcomm, Suning and Dalian Wanda-backed image recognition software provider SenseTime has reportedly secured an undisclosed amount of pre-IPO funding.
SenseTime, the China-based artificial intelligence software producer backed by corporate investors Alibaba, Qualcomm, SoftBank, Suning and Dalian Wanda, has received an undisclosed amount from unnamed investors at a $12bn valuation, Tencent News reported yesterday.
The funding was raised in late 2020 and is intended to precede the launch of an initial public offering. It follows reports in July 2020 that the company was in the process of raising roughly $1.5bn at a valuation of about $10bn.
SenseTime’s AI software is…
