Yitu extends Chinese AI fundraising spree

Shanghai-based facial recognition startup raises $200 million in yet another fundraiser from Chinese AI unicorns shortly after SenseTime and UBTECH.

Yitu extends Chinese AI fundraising spree

Chinese artificial intelligence startup Yitu Technology is the latest to join the sector’s fundraising spree of late as it closed its series C round of fundraising on Wednesday, marking the third AI developer to tap private funding over the last three months.

Shanghai-based Yitu said it raised $200 million from ICBC International and SPDB International, the respective international businesses of Industrial and Commercial Bank of China and Shanghai Pudong Development Bank. Jiangsu G-Cheng Venture Capital...

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