The Digital Source For China's Tech Innovation Since 2000

Beijing Facial Recognition Firm Closes Face-Saving Investment

December 7, 2016
Editorial Staff

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, China's public security bureau, Vanke, Lenovo, Didi Chuxing and other companies.

In March 2015, Alibaba's chairman Jack Ma showcased Ant Financial's "Smile to Pay" function, powered by Face++, in front of German Chancellor Angela Merkel.

In 2014, it completed series B funding worth US$22 million from Qiming Venture Partners and Sinovation Ventures.

Related Topics: Alibaba | Ant Financial | Beijing | Didi Chuxing | facial recognition | fintech | Foxconn | Germany | investment | Jack Ma | Lenovo | Megvii | Public Security Bureau | Qiming Venture Partners | robotics | Sinovation Ventures | smart city | venture capital

Other News:

Alec Su on Making His Return to Music After Decades Away: ‘Today, I Am a Singer’

January 13, 2023
billboard.com billboard.com

Nasdaq IPO For Baidu?

January 12, 2004

Canola farmers feel their livelihoods are being sacrificed to save the auto industry

March 27, 2025
theglobeandmail.com theglobeandmail.com

SHOW NOTES: DELETE TIKTOK! Chinese Communists Are Making America DUMB!

February 18, 2022
louderwithcrowder.com louderwithcrowder.com

Dearborn Partners LLC Makes New $224,000 Investment in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

December 16, 2021
zolmax.com zolmax.com

These stocks will be the winners from AI. Plus, GIC rates are getting juicier by the day

June 2, 2023
theglobeandmail.com theglobeandmail.com

As Indo-US Ties Fortify, Blinken's Pointed Message To China While It Cosies Up To Taliban

July 29, 2021
indiandefensenews.in indiandefensenews.in

The Future of Digital Innovation in China: Megatrends Shaping One of the World’s Fastest Evolving Digital Ecosystems

May 26, 2022
impactlab.com impactlab.com

Oktoberfest 2010 at Paulaner Brauhaus of Kempinski, Munich Comes to Beijing

September 27, 2010
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2026 ChinaTechNews.com. A Service of Asia Media Network.