China based AI facial recognition firm CloudWalk Technology Co. raised a $75m Series B led by Shunwei Capital and Oriza Holdings.
China’s AI facial recognition sector has seen a flurry of investment deals recently. Less than a week ago, CloudWalk Technology’s competitor Sensetime received an undisclosed amount of investment from Qualocomm Inc. In October, Beijing based Face++ raised US$460 million in a series C round led by China State-Owned Assets Venture Investment Fund, with Ant Financial and Foxconn Technology Group also participating. Its technology has been applied in financial, public security and aviation sectors. Its customers include more than 100 financial institutions, including China’s four state-owned banks and major airports in China. Its big-data facial recognition system has been used in police departments in 23 provinces.