Shanghai-based AI company Yitu raises $100m in fresh funding

Chinese artificial intelligence (AI) company Yitu Technology has raised another $100m to help expand its reach. Yitu's products include the Dragonfly Eye Intelligent Security System, which is based on machine vision technology, and Smart Healthcare, which can be used in disease diagnosis, screening and treatment. Its City Data Hub uses AI to optimise urban transport management. The funding, which came from one asset management firm, is a follow-on investment on top of the $200m series C+ round Yitu announced in June.

One month after Yitu Technology scored US$200 million, the Chinese artificial intelligence firm secured another US$100 million from China Industrial Asset Management Ltd.