Industrial AI company GT Technology received hundreds of millions of CNY from a Series C round of financing, led by GS Capital, it also received follow-on investment from existing shareholders including Qualcomm Ventures and Broad Vision Funds.
Industrial AI company GT Technology announced a Series C financing round worth hundreds of millions of CNY recently, led by GS Capital (Chinese: 虢盛资本).
Existing shareholders Qualcomm Ventures and Broad Vision Funds also participated in the round, tech news portal Lieyunwang.com reported.
Zhu Lei, CEO of GT Technology, said that starting from the high-end circuit board, the “AI and manufacturing” product system of GT Technology has extended to the semiconductor and new energy sectors in the industrial chain.
In the future, the company will expand its products to cover all processes in the high-end manufacturing industry, he added.
Gu Ru, Partners of GS Capital, said that GT Technology has achieved the coverage of the whole process of high-end circuit board making with AI robots and central systems as the core.
It has gained the trust of top companies in the high-end circuit boards industry by successfully producing industrial solutions including intelligent monitoring of FPC process production line operation and FPC SMT process equipment, she added.
According to Gu Ru, there are two dimensions of quality inspection in the industry: detection rate and over-inspection rate.
The detection rate refers to the proportion of flawed products. At present, the industry average is about 80%, whereas GT Technology can reach more than 99%. It also can lower the over-inspection rate to less than 1%, meaning that only one out of 100 products will be mistakenly categorized as deficient.
The ratio stands in sharp contrast with the industry average of 10%. This will greatly help reduce business costs, Gu said.
Founded in April 2018, industrial AI firm GT Technology focuses on quality control in the high-end manufacturing industry. It has constantly provided AI detection, AI monitoring, and AI-assisted decision-making to top clients from high-end circuit boards, semiconductor, and new energy cell industries during the country’s fight against Covid-19, according to Lieyunwang.com.