Megvii, the developer of a facial recognition software called Face++, raised $460m in funding from a consortium led by Russia-China Investment Fund.
The Russia-China Investment Fund, a private equity vehicle backed by the governments of Russia and China, last month led a $460m funding round for Megvii, a China-based facial recognition technology producer. Megvii, whose Face-plus-plus technology has been billed as the world’s largest face-recognition platform by publications such as MIT Technology Review, counts among its clients e-commerce and internet group Alibaba, which uses the software to verify the identity of employees entering its buildings.
Alibaba, while an impressive client, is just…
