CMN PwC May 2018 Report 1200×90


Chinese AI Facial Recognition Firm CloudWalk Technology Raises 75M Series B Round

Shunwei Capital, Oriza Holdings and Puhua Capital have led a RMB500 million (US$75 million) series B round in CloudWalk Technology Co., Ltd., an artificial intelligence facial recognition firm whose technology is widely applied in the financial, public security and aviation sectors. Yuexiu Financial Holdings Group, Shenzhen Qianhai Xingwang Investment Co. and a fund co-invested by Galaxy Holding and Zhangjiang Group participated in the new funding round. Cloudwalk also received RMB2 billion (US$301 million) from the government of Guangzhou to set up …

Legend-Backed Payment Platform Lakala Files for ChiNext Listing

Beijing-based third-party payment platform Lakala Payment Co., Ltd., backed by Chinese Legend Holdings, is planning for listing on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange, after the company’s planned back-door listing via a reverse merger with Shanghai-listed Tibet Tourism failed to materialize.