AI unicorn CloudWalk Technology closes RMB1.8b new financing round

CloudWalk Technology has completed a new round of financing with a total scale of 1.8 billion yuan. Investors of this round of financing include government funds such as China Internet Investment Fund, Shanghai Guosheng Group, Guangzhou Nansha Financial Holding, and the Yangtze River Delta Industrial Innovation Fund, as well as some industrial strategic investors such as ICBC and Haier Venture Cap

CloudWalk Technology has completed a new round of financing with a total scale of 1.8 billion yuan. Investors of this round of financing include government funds such as China Internet Investment Fund, Shanghai Guosheng Group, Guangzhou Nansha Financial Holding, and the Yangtze River Delta Industrial Innovation Fund, as well as some industrial strategic investors such as ICBC and Haier Venture Capital.

CloudWalk Technology is a developer of an AI facial recognition technology designed for financial, public security and aviation sectors in China. The company’s products include facial recognition terminals, facial scanning door entry and infrared binoculars scanning machines. It also has developed big-data platforms for public security to collect and recognize airline passengers and their ticket information, and a facial-recognition platform that connects with data base from the police department.

The company has provided services for 147,000 outlets of 400 banks, public security department in 30 provincial administrative regions, and more than 80 airports.

Previously, CloudWalk Technology was reportedly to plan to apply for listing on the STAR Market in the first half of 2020. In the blink of an eye, almost half of 2020 has passed, and the announcement of this round of financing of the company may be paving the way for an IPO.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/15/ai-unicorn-cloudwalk-technology-closes-rmb1-8b-new-financing-round/.

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