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The latest financing will bankroll investments in parallel fields such as autonomous driving and augmented reality, cover the growing cost of AI talent and shore up its computing power. It’s developing a service code-named “Viper” to parse data from thousands of live camera feeds -- a platform it hopes will prove invaluable in mass surveillance. And it’s already in talks to raise another round of funds and targeting a valuation of more than $4.5 billion, according to people familiar with the matter. “We’re going to explore several new strategic directions and that’s why we shall spend more money on building infrastructure,” SenseTime co-founder Xu Li said in an interview. The company turned profitable in 2017 and wants to grow its workforce by a third to 2,000 by the end of this year. “For the past three years the average revenue growth has been 400 percent.” China houses some of the world's largest privately backed artificial intelligence startups Note: Mobvoi's valuation is based on a 2015 investment Alibaba, the e-commerce giant that’s also the country’s biggest cloud service provider, could help with its enormous infrastructure needs. SenseTime plans to build at least five supercomputers in top-tier cities over the coming year to drive Viper and other services. As envisioned, it streams thousands of live feeds into a single system that’re automatically processed and tagged, via devices from office face-scanners to ATMs and traffic cameras (so long as the resolution is high enough). The ultimate goal is to juggle 100,000 feeds simultaneously. Police can use Viper to track everything from vice and accidents to suspects on blacklists. While civil libertarians say such systems have been used to track activists and oppress minorities in places like the Western region of Xinjiang, Xu believes the technology is essential and deployed in various ways by authorities around the world.
For the original version including any supplementary images or video, visit https://www.bloomberg.com/news/articles/2018-04-09/sensetime-snags-alibaba-funding-at-a-record-3-billion-valuation
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