Chinese AI company Yitu Technology raises $200 mln in Series C funding round

Yitu Technology, a Shanghai-based artificial intelligence start-up specialized in the field of machine vision, has raised $200 million in Series C funding round from ICBC International Holdings Ltd, SPDB International and Gaocheng Capital.

In February, the firm hired former Google research scientist Lu Hao as its chief innovation officer to oversee its strategies and methods in innovation.

In 2016, the firm received a Series B round worth of tens of millions of dollars from Yunfeng Capital. In 2014, the firm received a series A round from Sequoia Capital and Gaorong Capital.

In May 2017, the company raised an RMB380 million ($55 million) Series C round led by Hillhouse Capital Group and participated by Yunfeng Capital, Sequoia Capital, Banyan Capital and Zhen Fund.