By Krystal Hu

(Reuters) -Metropolis Technologies, a U.S. operator of parking lots that uses artificial intelligence and computer vision to recognize vehicles, has raised $1.6 billion in fresh capital to extend its technology into sectors such as retail, restaurants and gas stations, the company said on Thursday.

The funding includes a $500 million Series D equity round led by LionTree that valued the company at $5 billion. SoftBank Vision Fund, Vista Equity Partners, BDT & MSD Partners and Eldridge also participated in the round.

The Los Angeles-based company also secured a $1.1 billion syndicated term loan led by J.P. Morgan, backed by cash flows from its parking operations.

Chief Executive Alex Israel said in an interview that the new capital will be used to hire technical talent, ac

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