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Illustration: Aïda Amer/Axios

SenseTime, a Chinese developer of facial recognition technologies, is wrapping up a $1.5 billion funding round at a $10 billion valuation and is in talks to list on China’s STAR market, per Reuters.

Why it matters: This is the company’s first fundraise since being placed on a U.S. blacklist for alleged involvement in human rights abuses against Uyghur Muslims in China. It previously raised nearly $3 billion, including from U.S.-based firms like Fidelity, Glade Brook, Qualcomm Ventures, and Silver Lake Partners.

The bottom line: "SenseTime's founder Tang Xiaoou [said] in 2017 that the startup was considering a listing in U.S, Hong Kong, or China. The U.S. ban has made an overseas listing difficult, if not impossible," Reuters reports.

Go deeper

Oct 26, 2020 - World

China to sanction Boeing, Lockheed Martin, Raytheon over Taiwan arms sales

Taiwan's President Tsai Ing-wen during a visit to Penghu Air Force Base. Photo: Sam Yeh/AFP via Getty Images

China plans to impose unspecified sanctions on Boeing, Lockheed Martin, Raytheon and other U.S. companies involved in weapons sales to Taiwan, Reuters reports, citing a Chinese Foreign Ministry spokesperson.

Why it matters: The Trump administration last week notified Congress of an additional $1.8 billion in proposed arms sales to Taiwan. China's recent military exercises and the buildup of forces along its southeastern coast have renewed fears of an invasion of Taiwan, which Beijing views as a breakaway province that must be brought under its control.

Apple lobbied Congress on bill targeting Uighur slave labor in China

A banner hung by protesters in a Hong Kong mall. The protesters demonstrated against alleged workers' rights violations at the factories that produce Apple products, September 2011. Photo: Felix Wong/South China Morning Post via Getty Images

Apple paid an outside firm to lobby Congress on legislation targeting American companies working in areas in China that may use forced labor, The Information first reported. It remains unclear whether Apple lobbied against or for the bill.

Why it matters: Apple has faced scrutiny over the years regarding the human impact behind the manufacturing of its popular products.

Oct 27, 2020 - Economy & Business

SimilarWeb raises $120 million

SimilarWeb, an Israeli-based internet measurement company, has raised $120 million in its latest fundraising round, bringing its total funding to-date to $240 million.

Our thought bubble: The company was previously reportedly valued at $800 million after its last round in 2017, so presumably it's approaching a valuation that exceeds $1 billion.

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