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SenseTime Said to Get About $500 Million Cornerstone Investment

HONG KONG-CHINA-POLITICS-SANCTIONS-SENSETIME

Photographer: Peter Parks/AFP/Getty Images

Chinese artificial intelligence startup SenseTime Group Inc. has secured about $500 million in cornerstone investment ahead of its planned Hong Kong initial public offering, according to people familiar with the matter.

Nine investors participated in the fundraising, the people said, asking not to be identified as the process is private. Mixed-Ownership Reform Fund, which has pledged $200 million, remains the biggest on the list, they said.