CDH Investments Co-Leads Investment in SenseTime's $410 Million Series B Financing

On July 11, 2017, SenseTime, a China-based start-up developing deep learning and artificial intelligence (AI) algorithms and solutions, including facial recognition, announced that it has raised $410 million in a Series B round of financing led by Chinese private equity firms CDH Investments and Sailing Capital. WSGR represented CDH Investments in the transaction.

According to several news reports, the financing is the largest single private funding round ever closed by an AI start-up globally and lifts the company to unicorn status, with a value of more than $1 billion.

The WSGR team representing CDH Investments in the transaction was led by partners Weiheng Chen and Jie Zhu and included associates Shaokai Wang and Jill Sheng.