SoftBank Group Corp’s Vision Fund to invest nearly $1 billion in China’s SenseTime Group Ltd

The Chinese facial recognition startup has attracted loads of investor attention so far this year.

On Friday, as per a Bloomberg report, SoftBank Group Corp’s Vision Fund intends to invest nearly $1 billion in Chinese facial recognition startup, SenseTime Group Ltd.

SoftBank’s Vision Fund and SenseTime are finalizing the terms of the deal and the terms of the deal could potentially change, said sources.

Earlier this year in May 2018, SenseTime had raised $620 million in a funding round that was led by China’s Alibaba Group Holding Ltd and included the participation of Fidelity International, Silver Lake Partners, Hopu Capital, and Tiger Global.

In April SenseTime raised another A$600 million.

SenseTime’s spokeswoman declined to comment on the matter.

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