Beijing Facial Recognition Firm Closes Face-Saving Investment

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Anyone who knows China understands the importance of face, and a Beijing startup is extending that social metaphor to the digital world with a whopping US$100 million investment.

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.

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 in May 2016.

Face++ says it will use the proceeds to improve its facial recognition technology, and expand applications in the financial industry, security sector, smart city services and robotics sectors.

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

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