On October 31st 2017, Megvii Inc. (Face++), the leading AI company based in Beijing, has raised a record-breaking $460 million for companies under AI category. This C-round financing was led by China’s State-Owned Capital Venture Capital Fund, together with another two lead investors – Foxconn Technology Group and Ant Financial. Other investors include Russia-China Investment Fund, Sunshine Insurance Group, SK Group, and BHR Equity Investment Fund.
Starting from 2011 when Megvii Face++ was founded, we are the pioneering company who devoted to artificial intelligence. With our self-developed deep learning engine, MegBrain, we are capable of transforming AI technologies into engineering processes and products, or even industrializing AI. Our technologies have proven to be the most cutting edge globally, as Face++ was listed the 50 smartest companies by MIT Technology Review, and won several titles in most recent event – COCO and Places Challenges. Face++ focuses on three major industries to commercialize our technologies – financial security, “city brain”, and mobile intelligence. Our products, including “face payment” and “the City Eye”, had become world-class AI achievements. As Face++ dedicates to the vision “Power human with AI”, we are committed to realize industrial upgrading through artificial intelligence.
After completing the current round of financing, Megvii will further secure the leading position in financial security and urban security areas, and strengthen technology implementation for “city brain” and mobile intelligence. Up to now, Face++ has been cooperated with more than 10 provincial capitals to achieve strategic goals on the notion of creating smart cities. As for mobile business, Face++ works with a number of first-line smartphone manufacturers and has reached deep cooperation in AI implementation. CEO of Face++ Yin Qi suggested that under our mission to empower machines with eyes, building “city brain” is definitely the ultimate social goal for people who work at Megvii Face++.
