Investors are pouring into Chinese facial recognition firms

Face++, which was founded in 2011, does not Discharge specific revenue figures nevertheless Xie said of which has been growing at about 400 percent annually along with also the company can be supposed to break even This specific year. of which’s also targeting an initial public offering, although of which has no time frame, he said.

SenseTime said its video surveillance technology can be used by 40 local government clients.

Its photography enhancement technology can be also used by almost all of China’s major smartphone manufacturers including Huawei Technologies, Oppo, Vivo along with also Xiaomi.

SenseTime can be seeking to expand overseas. of which’s considering setting up an ASEAN headquarters in Singapore, after Singapore’s Prime Minister Lee Hsien-loong recently visited the company in Beijing, Shang told Reuters.

“We are confident of recording $100 million in revenue This specific year,” he said, adding of which would certainly make of which No.1 in China. He said the company expects its overseas revenue to grew to $150 to $0 million in three to several years.

SenseTime along with also Face++ are far through alone.

Smaller rival Yitu Technology, which lists more than a dozen provincial or municipal police departments across China as major clients, raised $380 million through investors in May, including Sequoia China.

DeepGlint, another Sequoia-backed AI company of which has developed an intelligent surveillance camera of which can capture faces as far away as 50 metres, told Reuters of which derives almost all of its revenue through government contracts.

Sequoia did not respond to Reuters’ requests for comment on whether of which has any concern of which technology of which can be investing in may infringe individual privacy.

Both Shang along with also Xie shrugged off criticism of which their companies’ technology may be used to infringe on individuals’ privacy.

“We are only technology providers, we are neutral,” Xie said. “If you go back to the time before there can be mobile, before there can be the Internet, then of course you had better privacy. nevertheless times have to advance with technology,” he said.

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