According to people familiar with the matter, Defiance Technology will complete this round of financing within a few weeks, and will then seek to start the second tranche financing. Defiance of technology investors have included Ma Yun's Ant Financial Service, China's largest government background VC One of the funds.
Ali is increasing its investment in China's largest artificial intelligence (AI) startup, hoping to deploy AI technology in its expanding Internet and retail empire. Defiance Technology provides face recognition systems to companies such as Lenovo Group, Ant Financial, etc. Another startup company supported by Ali, Shangtang Technology, competes for market share in the retail, financial, smart machine and public safety sectors.
Ali and Vision Technology declined to comment. The Bo Yu Capital representative said that the company declined to comment.
According to people familiar with the matter, Defiance Technology will use a large portion of this round of financing to support retail projects, including the application of technology to unmanned stores. In addition to e-commerce, facial recognition also attracts interest from government agencies, the latter hopes Use this technology to detect crimes and threats that affect social stability. Other investors who defied technology include Foxconn, CCB International, Qiming Ventures and Innovation Works.
People familiar with the matter said last week that Shangtang Technology plans to raise nearly $1 billion from the Softbank Group's vision fund.
