China's SenseTime raises $620 million in latest funding round

HONG KONG (Reuters) – Chinese facial recognition technology developer SenseTime Group Ltd has raised $620 million in its latest round of funding, valuing the company at more than $4.5 billion.

FILE PHOTO: SenseTime surveillance software identifying customers’ movement patterns at a department store runs as a demonstration at the company’s office in Beijing, China, October 11, 2017. REUTERS/Thomas Peter/File Photo

The financing was led by Fidelity International, Hopu Capital, Silver Lake and Tiger Global, it said in a statement.

Reporting By Sijia Jiang; Editing by Anne Marie Roantree and Edwina Gibbs