Alibaba led the facial recognition technology provider's latest round, which will support its expansion in the retail sector.
China-based facial recognition software provider Megvii has raised “at least” $600m in a funding round featuring e-commerce group Alibaba, Bloomberg reported today.
The corporate was joined in the round by investment firm Boyu Capital, people familiar with the matter told Bloomberg, adding that the round was set to close in the next few weeks, at which point the company would begin work on raising a second tranche.
Founded in 2011 and also known as Face++, Megvii provides artificial intelligence-based facial…
