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Megvii

Megvii

A company developing a data management platform, deep learning framework, and a deep learning algorithm.

A company developing a data management platform, deep learning framework, and a deep learning algorithm that is headquartered in Beijing, China. the company is developing an IoT software platform powered by artificial intelligence, an artificially intelligent city management operating system, a robot network operating system.

Funding

Series A

On June 18, 2013 Megvii completed their series A funding round with an undisclosed amount of funding from Sinovation Ventures and Comet Labs.

Series B

On August 1, 2015 Megvii completed their series B funding round with $25 million in funding from undisclosed investors.

Series C

On November 1, 2017 Megvii completed their series C funding round with $460 million in funding from Foxconn Technology Group (lead investor), Ant Financial (lead investor), Sunshine Insurance Group, SK Group, Russia-China Investment Fund, and China Reform Holdings Corporation.

Series D

On May 8, 2019 Megvii raised $750 million in a Series D funding round. Participants in Series D include Bank of China Group Investment Limited, ICBC Asset Management (Global), Abu Dhabi Investment Authority and Macquarie Group.

Timeline

May 8, 2019

Series D

Megvii raised $750 million in a Series D funding round. Participants in Series D include Bank of China Group Investment Limited, ICBC Asset Management (Global), Abu Dhabi Investment Authority and Macquarie Group.

May 8, 2019

Megvii raises a $750,000,000 series D round from ICBC International, Alibaba Group, Macquarie Group, Abu Dhabi Investment Authority and Bank of China.

Funding rounds

Funding round
Description
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News

Title
Author
Date
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Description
Scott Murdoch
January 6, 2020
U.S.
Chinese artificial intelligence (AI) company Megvii's plans for a $500 million Hong Kong initial public offering (IPO) are back on track after its application was cleared by the city's stock exchange, two sources with direct knowledge of the matter said.
Chris Udemans
December 4, 2019
TechNode
Potential investors are worried about buying shares in Megvii after the US placed the company on a trade blacklist.
Chris Udemans
November 20, 2019
TechNode
In October, Megvii was added to the US "Entity List."
Chris Udemans
November 6, 2019
TechNode
The company was among several of China's biggest AI firms added to the US government's Entity List in October.
Chris Udemans
October 17, 2019
TechNode
The US ban could discourage investors from buying the biometric firm's shares.
Miles Goscha
October 16, 2019
TechNode
Megvii won a bid to install the security system at Taichung Power Plant on Sept. 12.
Wei Sheng
October 8, 2019
TechNode
Sensetime sold their share in a security joint venture in April.
BBC News
August 26, 2019
BBC News
The creator of the Face++ system has filed papers to prepare for a Hong Kong flotation.
Eliza Gritsi
May 31, 2019
TechNode
MIT and the Rockefeller Foundation are among dozens of "socially responsible" institutions that fund China's surveillance tech.
Chris Udemans
May 9, 2019
TechNode
Chinese and foreign investors are pumping money into artificial intelligence and facial recognition startups in China.
Rita Liao
May 8, 2019
TechCrunch
One of China's most ambitious artificial intelligence startups, Megvii, more commonly known for its facial recognition brand Face++, announced Wednesday that it has raised $750 million in a Series E funding round. Founded by three graduates from the prestigious Tsinghua University in China, the eight-year-old company specializes in applying its computer vision solutions to a [...]
Lulu Yilun Chen
Invalid Date
DealStreetAsia
Megvii, the owner of facial recognition developer Face++, is considering an initial public offering in Hong Kong that could net as much as $1 billion.
Algorithmic Justice League
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www.prnewswire.com:443
BOSTON, Dec. 11, 2018 /PRNewswire/ -- English police stopped a black man in London last July after facial recognition software misidentified him. Police...
Lulu Yilun Chen
Invalid Date
DealStreetAsia
The Beijing-based company, which already counts Alibaba as a backer, is talking with Chinese private equity investors and wants to close the round in December.

References