Chinese AI unicorn Megvii raises US$750 million ahead of planned IPO

//Chinese AI unicorn Megvii raises US$750 million ahead of planned IPO

Chinese AI unicorn Megvii raises US$750 million ahead of planned IPO

Megvii, developer of the Face++ facial recognition software widely used across China, has announced completion of a US$750 million funding round as the Beijing-based artificial intelligence start-up nears an initial public offering.Bank of China Group Investment, the state bank’s private equity arm, Abu Dhabi Investment Authority (ADIA), Macquarie Group and ICBC Asset Management backed the D round, the company said in a statement on Wednesday.The proceeds will bankroll its overseas expansion,…

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By | 2019-05-09T03:09:57+00:00 May 9th, 2019|Technology|Comments Off on Chinese AI unicorn Megvii raises US$750 million ahead of planned IPO