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Megvii

Megvii

MEGVII is a world-class AI company with core competencies in deep learning. Founded in Beijing in 2011 by Yin Qi, Tang Wenbin and Yang Mu, three Tsinghua University graduates who studied under the Turing-prize winning Chinese computer scientist and computational theorist Andrew Chi-Chih Yao, MEGVII is a pioneer in applying AI technology and computer vision algorithms to Internet of Things (IoT) use cases. The Company’s mission is to use innovative AI technology to deliver value to customers and to benefit the society as a whole.

OVERVIEW

Category
AI
Headquarter
Beijing, China
Founded Time
Nov. 1, 2018
Founder
Yin Qi
Latest Funding
Series D
Company Size
2000+
Also Known As
北京旷视科技, Face++, FacePlusPlus, Kuangshi Ke Ji, Megvii Technology
Legal Name
Beijing Megvii Co.,Ltd.
Name (Chinese)
Megvii
Legal Name (Chinese)
北京旷视科技有限公司
Website
Email Address
media@megvii.com
Phone Number
400-910-1616
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FUNDING

Number of Funding Rounds 6
Total Funding Amount USD 1.18B
Announcement Date Funding Round Funding Raised Lead Investor(s)
Jul. 23, 2018 Series D 600.00M Alibaba Group,Boyu Capital
Oct. 31, 2017 Series C 460.00M China State-Owned Assets Venture Investment Fund,Ant Financial,Sunshine Insurance Group Co Ltd,Russia-China Investment Fund,Sunshine Insurance Group Co Ltd,Foxconn Technology Group
Dec. 31, 2016 Series C 100.00M Sinovation Ventures,Qiming Venture Partners,Foxconn Technology Group,Foxteq Holdings,CCB International
Jul. 1, 2014 Series B 22.00M Sinovation Ventures,Qiming Venture Partners
Jul. 18, 2013 Series A 0.00 Sinovation Ventures
Aug. 12, 2012 Angel Round 0.00 Comet Labs
Announcement Date

Jul. 23, 2018

Funding Round

Series D

Funding Raised

600.00M

Lead Investor(s)

Alibaba Group,Boyu Capital

Announcement Date

Oct. 31, 2017

Funding Round

Series C

Funding Raised

460.00M

Lead Investor(s)

China State-Owned Assets Venture Investment Fund,Ant Financial,Sunshine Insurance Group Co Ltd,Russia-China Investment Fund,Sunshine Insurance Group Co Ltd,Foxconn Technology Group

Announcement Date

Dec. 31, 2016

Funding Round

Series C

Funding Raised

100.00M

Lead Investor(s)

Sinovation Ventures,Qiming Venture Partners,Foxconn Technology Group,Foxteq Holdings,CCB International

Announcement Date

Jul. 1, 2014

Funding Round

Series B

Funding Raised

22.00M

Lead Investor(s)

Sinovation Ventures,Qiming Venture Partners

Announcement Date

Jul. 18, 2013

Funding Round

Series A

Funding Raised

0.00

Lead Investor(s)

Sinovation Ventures

Announcement Date

Aug. 12, 2012

Funding Round

Angel Round

Funding Raised

0.00

Lead Investor(s)

Comet Labs

UPDATES

Former VP of Megvii Joins Zuoyebang to Bolster Its Tech Clout
Online educational platform Zuoyebang is looking to strengthen its technology department by hiring Luo Liang, the ex-VP at China’s leading AI company, Megvii.

Online educational platform Zuoyebang is looking to strengthen its technology department by hiring Luo Liang, the ex-VP at China’s leading AI company, Megvii.

10 Companies Join China's National Open Platform for Next Generation AI
YITU Technology, MININGLAMP Technology, Huawei, Ping An, HIKVISION, JD.com, MEGVII, Qihoo 360, TAL, and Xiaomi are the new members of the national AI open platform club.   

YITU Technology, MININGLAMP Technology, Huawei, Ping An, HIKVISION, JD.com, MEGVII, Qihoo 360, TAL, and Xiaomi are the new members of the national AI open platform club.   

MEGVII Files Prospectus at Hong Kong Stock Exchange
In the first half of 2019, the company achieved a revenue of USD 133 million, up 210.3% from the same period of last year. The loss was USD 732 million, which is caused by the changes of the fair value of preferred stock and continuing R&D costs.

In the first half of 2019, the company achieved a revenue of USD 133 million, up 210.3% from the same period of last year. The loss was USD 732 million, which is caused by the changes of the fair value of preferred stock and continuing R&D costs.

MEGVII Is Said to Unveil IPO Filing as Soon as Next Friday
Chinese AI company MEGVII is seeking to be listed on Hongkong Stock Exchange

Chinese AI company MEGVII is seeking to be listed on Hongkong Stock Exchange

Megvii Publishes "AI Application Criteria", Becoming Industry Rule Maker
Megvii published “AI Application Criteria”, aiming to provide guidance for the appropriate use of AI-related technologies and the sustainable development of the AI ecosystem.

Megvii published “AI Application Criteria”, aiming to provide guidance for the appropriate use of AI-related technologies and the sustainable development of the AI ecosystem.

MEGVII Planning IPO under WVR Structures: HKEx or STAR?
Face recognition tech company MEGVII is considering IPO under weighted voting rights (WVR) structures. Under this strucuture, both HKEx and STAR could receive MEGVII's prospectus.

Face recognition tech company MEGVII is considering IPO under weighted voting rights (WVR) structures. Under this strucuture, both HKEx and STAR could receive MEGVII's prospectus.

MEGVII Rethinking its IPO Plan This Year
MEGVII is reconsidering its plan to go public this year because of the gloomy market and US-China Trade Tension.

MEGVII is reconsidering its plan to go public this year because of the gloomy market and US-China Trade Tension.

Megvii’s Computer Vision AI Technology in 2G, 2B and 2C Segments
While there has been a lot of media buzz about AI in recent years, Megvii, a rare game-changer in the Computer Vision field, has caught investors’ attention.

While there has been a lot of media buzz about AI in recent years, Megvii, a rare game-changer in the Computer Vision field, has caught investors’ attention.

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