Beijing-based Megvii Technology Limited recently announced the completion of the second stage of its series D round financing and its total raised capital reached about USD750 million in this round.
It is said that Megvii's series D round investors include BOCGI, fully-owned subsidiary of ADIA, Macquarie Group, and ICBC Asset Management (Global) Company.
Megvii will use the newly raised fund to further enhance its technology advantage in the deep learning sector and accelerate its commercialization of artificial intelligence solution. In addition, the company will use the money to hire top AI talents to provide better services to more customers and promote the international operations of the company.
Yin Qi, co-founder and CEO of Megvii, said that they are excited about the joining of new investors. It will help the next-stage growth of Megvii. They appreciate those investors' recognition of their strategic direction and development potential and feel grateful for their confidence. Megvii is committed to creating AI innovative technologies to solve social and industrial challenges. With the help of investors and customers, they will accelerate development and become a reliable world-leading enterprise in the AI and IoT sectors to promote industry change and development.