Hong Kong: Chinese artificial intelligence startup SenseTime According to two sources with direct knowledge of the matter, the group has received approval for an initial public offering in Hong Kong.

Reuters reported in August that the company was planning to raise up to $2 billion in the deal, based on information from sources. The sources declined to be identified as the information has not yet been made public.

A SenseTime spokesperson declined to comment.

Hong Kong-based SenseTime is backed by major investors such as SoftBank Vision Fund and Alibaba Group Holdings. The firm offers technology-based applications including facial recognition, video analysis and autonomous driving.

Sensetime was among eight Chinese tech companies placed on the US blacklist in 2019 amid trade tensions between Beijing and Washington. United States alleges companies played a role in human rights abuses against Muslim minority groups China, Sensetime said at the time that it strongly opposes US trade sanctions and would work with relevant authorities to resolve the situation.

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