On the one-year anniversary of Copy.ai's launch on Twitter, the company, a GPT-3 AI-powered platform that generates copywriting tools for business customers, secured another round of funding. This time, the company brought in an $11 million Series A round, led by Wing Venture Capital, with participation from existing investors Craft Ventures and Sequoia, and new investors including Tiger Global and Elad Gil. This follows a $2.9 million seed round announced in March and brings the company's total funding to $13.9 million. Copy.ai's software costs $35 a month and can, for example, write a blog post outline based on a few sentences and create link descriptions for Facebook ads and even generate a company motto. A year since CEO Paul Yacoubian and Chris Lu co-founded the company, it is seeing $2.4 million in annual recurring revenue.

Chinese facial recognition technology developer SenseTime Group Ltd said it has raised $620 million in a second round of funding in just two months, adding that it continued to be the world's most valuable unicorn in artificial intelligence. The financing, which values the company at more than $4.5 billion, was led by Fidelity International, Hopu Capital, Silver Lake and Tiger Global and follows a $600 million funding round in April led by Alibaba Group. SenseTime, which became profitable in 2017, said in a statement it would invest further in research and development, and in securing talented researchers after the latest round of funding. SenseTime, based in both Hong Kong and Beijing, develops technology that employs AI to quickly identify and analyze identities using cameras, and has been used by Chinese authorities to track and capture suspects in public spaces such as airports and festivals.