image credit : YITU

Chinese AI and computer vision technology company Yitu Technology which provides various industrial AI technologies to different enterprises has now raised a huge $200 million Series C round from various investors to expand its operations of offering its wide range of smart services which includes Intelligent Healthcare, Security, Smart City and Hardware platforms.

The company which was founded in 2012 and counts notable investors including Sequioa Capital and Zhenfund as earlier investors will make use of this huge investment to expand its team and pool huge resources into the development and scaling of its AI services for its numerous customers.

Yitu which engages in fundamental research to provide computer vision and learning services to various companies and is currently led by notable co-founders Zhu Long who was postdoctoral Fellow at MIT’s AI Laboratory and also Lin Chenxi who previously held positions at e-commerce giant Alibaba and software and cloud major player Microsoft first received an angel investment from Zhenfund in 2013 and was also funded by Sequoia and Banyan Capital the following year currently has different offices in China where it operates from and will now use this funding to scale up its presence both in the country and internationally whilst generating larger revenues.

Yitu’s vast range of products currently provide good assistance in the fields of urban traffic management, disease screening, clinical diagnosis and also machine vision with the production of its hardware which enables computers to understand their surroundings better.

This $200 million investment adds to the number of huge investments made this year in Chinese technology companies with fellow AI company SenseTime first raising a $600 million round April this year and another $620 million the following month amongst other Chinese companies which haves raised huge amount of investments.

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