{"id":131117,"date":"2021-11-23T10:49:44","date_gmt":"2021-11-23T18:49:44","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2021\/11\/chinas-ai-giant-sensetime-readies-hong-kong-ipo"},"modified":"2021-11-23T10:49:44","modified_gmt":"2021-11-23T18:49:44","slug":"chinas-ai-giant-sensetime-readies-hong-kong-ipo","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2021\/11\/chinas-ai-giant-sensetime-readies-hong-kong-ipo","title":{"rendered":"China\u2019s AI giant SenseTime readies Hong Kong IPO"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/chinas-ai-giant-sensetime-readies-hong-kong-ipo.jpg\"><\/a><\/p>\n<p>One of China\u2019s biggest AI solution providers SenseTime is a step closer to its initial public offering. SenseTime has received regulatory approval to list on the Hong Kong Stock Exchange, according to media reports. Founded in 2014, SenseTime was christened as one of China\u2019s four \u201cAI Dragons\u201d alongside Megvii, CloudWalk, and Yitu. In the second half of the 2010s, their algorithms found much demand from businesses and governments hoping to turn real-life data into actionable insights. Cameras embedded with their AI models watch city streets 24 hours. Malls use their sensing solutions to track and predict crowds on the premises.<\/p>\n<p>SenseTime\u2019s three rivals have all mulled plans to sell shares either in mainland China or Hong Kong. Megvii is preparing to list on China\u2019s Nasdaq-style STAR board after its HKEX application lapsed.<\/p>\n<p>The window for China\u2019s data-rich tech firms to list overseas has narrowed. Beijing is making it harder for companies with sensitive data to go public outside China. And regulators in the West are wary of facial recognition companies that could aid mass surveillance.<\/p>\n<p>But in the past few years, China\u2019s AI upstarts were sought after by investors all over the world. In 2018 alone, SenseTime racked up more than $2 billion in investment. To date, the company has raised a staggering $5.2 billion in funding through 12 rounds. Its biggest outside shareholders include SoftBank Vision Fund and Alibaba\u2019s Taobao. For its flotation in Hong Kong, SenseTime plans to raise up to $2 billion, according to Reuters.<\/p>\n<p>Full Story:<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of China\u2019s biggest AI solution providers SenseTime is a step closer to its initial public offering. SenseTime has received regulatory approval to list on the Hong Kong Stock Exchange, according to media reports. Founded in 2014, SenseTime was christened as one of China\u2019s four \u201cAI Dragons\u201d alongside Megvii, CloudWalk, and Yitu. In the second [\u2026]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,41,6,1511],"tags":[],"class_list":["post-131117","post","type-post","status-publish","format-standard","hentry","category-business","category-information-science","category-robotics-ai","category-surveillance"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/131117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=131117"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/131117\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=131117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=131117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=131117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}