Pranav Kiran · · 1 min readChinese AI developer Megvii raises $750m in series D funding
Beijing-based developer of AI products Megvii Technology Limited said it has closed the second tranche of its series D, raising US$750 million in the funding round.
The company, which develops face and image recognition technology, said it would use the proceeds to hire more people, expand internationally, and commercialize its AI solutions faster.
Bank of China Group Investment Limited, ICBC Asset Management (Global) Co. Ltd., Australia’s Macquarie Group, and a subsidiary of the sovereign wealth fund Abu Dhabi Investment Authority (ADIA) also participated in the funding round.
Editing by Dante Gagelonia
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