(Yicai Global) Sept.10 -- Softbank China Venture Capital has investedoverUSD1.6billion in SenseTime and increased its value to USD6 billion,technology news portalSina IT reported, as many other sources have also verified.

SenseTimeformed in 2014.HavingfinisheditsC+funding and its valuenowexceeds USD4.5 billion, information onits websiteshows.

Beijing-based SenseTime claims to be the largest AI algorithm provider in China. It has developedits proprietaryin-depth learning supercomputing center and AI technologiesthatincludeface recognition, image recognition, text recognition, medical image recognition, video analysis,autonomousdriving and remote sensing.

These AI technologies havefound applicationsin security, finance, mobile phones,driverlesscars and retail, andthe companyhas expanded its business into Japan and Southeast Asia.

SenseTime has also startedpumpingoutexternalcash infusions of its ownnowandrepositioningitselfas aninvestor.SenseTime hasinvestedinBeijing-based alternate/virtual reality firm51VR, Helian Health--aHangzhou-headquartered supplier ofWiFi and cloud-based apps to hospitals--Nanjing-based sports services provider and unicornSuning Sports and Moviebook, a Beijingvideo recognition and online video technologyfirm,SenseTimeannouncedandplansmore outlaysinAIchips, medical treatment,IOT, mobile phones, the internet and games.

Editor: Ben Armour