CDH leads $120m round for China AI player Sense Time

Dalian Wanda Group, IDG Capital Partners and StarVC have also participated in the round. This is the first investment for both CDH and IDG to invest in the field, Sense Time said.

Sense Time was founded in 2014 by a group of Chinese scientists from leading universities such as Stanford University and Tsinghua University, as well as former employees of technology firms including Google and Microsoft. It claims to be the only company in China focusing on the development of deep learning infrastructure and precise rules specifying how to solve specific problems.

Sense Time specializes in facial and specific object scanning, recognition and analysis technology. Its technology can be applied in different industry verticals, such as financial services, cybersecurity and driverless cars. With offices in Beijing, Shenzhen and Hong Kong, it serves more than 200 corporations including China Mobile, Xiaomi, Huawei, HNA Group, Sina Corporation and JD.com.

"Deep learning has high technological barriers and there aren't many talents in this field. In a short two-year period, Sense Time has reached several breakthroughs in early deep learning infrastructure, and has since successfully applied its technologies in various industries. Its technology commercialization is fast, which has exceeded our expectations," Kuiguang Niu, a partner at IDG, said in a media report linked to from the company's website.

Wanda said it hopes to use Sense Time's technology to improve users' experiences for its services and products. The company plans to use the latest funding to expand the application of its technology. 

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• Topics
• Greater China
• Technology
• Early-stage
• China
• TMT
• CDH Investments Management
• IDG Capital Partners
• Venture
• Dalian Wanda Group