Home / Gadgets / Qualcomm invests in Chinese AI facial recognition startup SenseTime, to promote tech in smart devices

Qualcomm invests in Chinese AI facial recognition startup SenseTime, to promote tech in smart devices

Chinese artificial intelligence (AI) startup SenseTime Group said on Wednesday it has sealed an investment from chipmaker Qualcomm Inc as part of a funding round that will close later this year. SenseTime and Qualcomm had announced a strategic tie last month to collaborate on AI, which will see SenseTime’s proprietary algorithms deployed in smart devices.

Qualcomm, in a statement, confirmed the investment in SenseTime. The two firms did not disclose the size of the investment.
Reuters reported earlier in November that SenseTime plans to raise about $500 million in a new funding round, in what would be the biggest ever such fundraising by an AI startup. The fundraising will value SenseTime at about $2 billion and has drawn interest from prospective investors, including Singapore state investor Temasek, the report said.

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