Reuters
Published Jul 20, 2018 02:07AM ET
SoftBank's Vision Fund to invest $1 billion in China AI startup: Bloomberg
(Reuters) - SoftBank Group Corp's Vision Fund is seeking to invest almost $1 billion in SenseTime Group Ltd, a Chinese facial recognition technology developer, Bloomberg reported on Friday.
The fund and SenseTime are finalizing the terms of the deal and the details could still change, Bloomberg reported https://www.bloomberg.com/news/articles/2018-07-20/softbank-fund-is-said-to-seek-investment-in-chinese-ai-giant?utm_source=google&utm_medium=bd&cmpId=google citing sources.
SenseTime in May raised $620 million in a round of funding from Fidelity International, Hopu Capital, Silver Lake and Tiger Global, and $600 million in April led by Alibaba (NYSE:BABA) Group Holding Ltd.
A SenseTime spokeswoman declined to comment on the matter.
Written By: Reuters
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