Video++ puts more funding in the can

Apr 16, 2018 • Thierry Heles

The video intelligence technology provider has raised $56.6m from investors including Alibaba and Megvii and has reportedly reached profitability.

China-based video technology developer Video++ has secured RMB349m ($55.6m) in a funding round co-led by e-commerce group Alibaba and facial recognition company Megvii, China Money Network reported yesterday.

Yunfeng Capital, the private equity firm co-founded by Alibaba’s executive chairman Jack Ma, also participated in the round, as did investment fund Toutoushidao Capital and the Chinese government-owned State Development and Investment Corporation.

Founded in 2014 and also known as Jilian Technology, Video++ uses artificial intelligence technology to automatically recognise and tag…

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