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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 …

CMC Capital Leads $15M Series B+ Round In Yitiao

CMC Capital has led a RMB100 million (US$15 million) series B+ round in Yitiao, an online video content producer and e-commerce start-up, according to Chinese media reports. Launched in 2014, Yitiao initially began as an online video producer, publishing lifestyle video series on Youku, Tuduo and other video platforms. The company started to sell lifestyle products two months ago in order to generate more revenue. Yitiao claims to have active daily users of one million and expects to expand its …

China Life Insurance To Invest $600M In Didi Chuxing

China’s largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month.