Chinese Face Recognition Firm Face++ Raises $100M In New Round

Beijing-based face recognition technology firm Face++ has raised at least US$100 million from Foxconn Technology Group, CCB International Holdings Ltd. and existing investors, according to media reports.

The round follows a disclosure last month by Foxconn on its US$20 million investment in the company, and a US$25 million series B+ round Face++ completed last May.

The company plans to use the latest proceeds to improve its facial recognition technology, and expand applications in the financial industry, securities, smart cities and robotics sectors.

Face++, operating under Megvii Inc., provides face-scanning systems and identity recognition solutions to Ant Financial<...

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