(Yicai Global) Jan. 25 -- Alibaba Holdings Ltd.-backed artificial intelligence start-up SenseTime Co. will build an innovation center in Shenzhen in southern Guangdong province after coming to an agreement with a real estate developer in the city.
The firm, also headquartered in the city, will cooperate with China Merchants Shekou Industrial Zone Holdings Co. on construction and use the center to develop innovations related to AI, Internet of Things and Big Data, the company said in a press briefing yesterday.
China Merchants Shekou will provide resources including services, equipment, technology and personnel, while SenseTime will create an AI platform for enterprises located in China Merchants Shekou industrial parks. The two parties will also work together on promoting practical applications of AI technology in the healthcare sector among others.
Founded in 2014, Sensetime specializes in AI technology research and development related to facial recognition, driving automation and medical imaging products. The firm has more than 400 clients and has opened offices in Beijing, Shenzhen, Shanghai, Hong Kong and Tokyo.
Investors in Sensetime include Alibaba Group, semiconductor supplier Qualcomm Inc. and venture capital firms such as IDG Capital and CDH Investments. The firm is worth over USD3 billion following its most recent round of investment.
China Merchants Shekou is a subsidiary of China's largest centrally-owned enterprise, China Merchants Group. Founded in 1979, the real estate unit focuses on developing and operating industrial parks and urban communities. As of 2016, it had total land reserves of more than 30 million square meters in over 200 developments.
The property developer set up an innovation center jointly with smartphone maker Huawei Technologies Co. last April to provide Internet of Things, enterprise cloud and other services for resident enterprises at the company's industrial zones.