Chinese AI Start-Up SenseTime Raises $410 Million Series B Round

Chinese artificial intelligence start-up SenseTime has completed a US$410 million series B round, in what the company calls the largest private financing rounds ever closed by an AI start-up globally. The company said it is now valued at over RMB10 billion (US$1.47 billion) in an announcement, revealing its valuation for the first time. It means another company has joined China Money Network's China Unicorn Ranking, which currently counts 108 unicorns in China with aggregate valuation of US$445.66 billion. The round includes two portions: a series B1 round, which was led by Chinese private equity firm CDH Investments, and a B2 round led by Chinese investment firm Sailing Capital. China Money Network previously reported that SenseTime raised US$120 million last December and US$60 million in April, both were part of the series B round.