SenseTime’s AI chip Spinoff Raises Over $431 Million in a Year

(DealStreetAsia) — Sunrise, a Chinese artificial intelligence (AI) chip spinoff from Hong Kong-listed AI software provider SenseTime Group Inc., has secured a strategic financing of nearly 3 billion yuan ($431.4 million) in a span of 12 months.

A wide range of corporate investors, professional private markets investment firms, and state capital investment platforms participated in its strategic financing. IDG Capital, Soul Capital, Gaorong Ventures, CICC Capital Operation Co. Ltd., Puhua Capital, Green Pine Capital Partners Co. Ltd., and Yuexiu Industrial Fund were among the investors, just to name a few.