Qiming, Innovation Works invest $22m in China Face++
Qiming Venture Partners and Innovation Works have participated in a $22 million Series B round of funding for Face++, a Chinese face recognition technology developer.
The round reportedly values the company at $100 million.
Founded in 2012, Beijing-based Face++ develops face detection, recognition and analysis technology for both image and video. Software developers can incorporate the technology into websites, mobile platforms and smart TVs. More than 14,000 mobile app developers have used Face++ technology, the company told local media.
The start-up received seed funding from Legend Star, an incubator program launched by Legend Holdings and the Chinese Academies of Science, in 2012. Last year, Innovation Works provided the Series A round.
The new funding will be used to further commercialize Face++'s products.
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