China VC Investment List Q2 2022 - Intelligent Hardware

Technology Author: Yanbing Gao Editor: Boying Ji Jul 08, 2022 01:21 PM (GMT+8)

This is the fourth in a seven-part series on China's VC investment in Q2 2022. This series features firms spanning seven industries, including smart mobility, healthcare, New Retail, intelligent hardware, smart manufacturing, enterprise services and emerging technologies.

Q2

In December 2021, China's Ministry of Industry issued the "14th Five-Year Plan" for the development of intelligent manufacturing to intelligent manufacturing equipment. It is believed that by 2025, the technology and market competitiveness of intelligent manufacturing equipment and industrial software would have significantly improved.

Accelerating the development of intelligent manufacturing is to create a new competitive advantage in China's manufacturing industry and has important strategic significance for both SMEs and the country itself. According to the estimation from the website data.iyiou.com, the market value of intelligent hardware in the education, smart home, sports, entertainment and communication industry will reach around CNY 689.5 billion (USD 102.9 billion) by the end of 2022. 

Intelligent hardware is mainly used in applications including consumer electronics, smart home, intelligent transportation, intelligent industry, electronic information hardware industry and other fields.

For intelligent hardware, we at EqualOcean have identified 20 companies worth watching in Q2. The core criterion is to receive venture capital investments of over USD 30 million on average or the equivalent value in CNY in a single round. When compiling the list, we also considered factors such as growth prospects, brand influences and reputation, as well as planned expansions.

From SMEs about to make their mark in the market, to well-established companies that have already raised significant funds and are still seeking further capital injections, here's a list you won't want to miss.

演示文稿1  季度.jpg.jpg

MegaRobo Technologies

MegaRobo Technologies(Chinese:镁伽机器人), a Chinese company that provides robotics and AI for life sciences research, has pocketed USD 300 million in a Series C round of financing on June 15, led by  Goldman Sachs Asset Management, Asia Investment Capital and Geyser Capital, with continued oversubscription from old shareholder Innovation Works and follow-on investment from Singapore's Landing Capital, Shi Band Capital, Rain Alliance Capital, Hongwei Capital, Yuanfeng Capital, and Taihe Capital.

Founded in 2016, MegaRobo develops a suite of robotic automation solutions that integrate AI software, analytical instruments, laboratory hardware and consumables to help clients in the life science sector achieve more stable and efficient experimental results.  

GT Technology

GT Technology (Chinese:感图科技), an industrial AI company, announced a Series C financing round worth hundreds of millions of CNY on April 19, led by GS Capital. Existing shareholders Qualcomm Ventures and Broad Vision Funds also participated in the round.

Established in April 2018, industrial AI firm GT Technology focuses on quality control in the high-end manufacturing industry in high-end circuit boards and semiconductors, and new energy cells.

XYZ Robotics

XYZ Robotics (Chinese:星猿哲) announced that it completed a Series B+ funding round worth nearly USD 40 million on June 20, led by Capital Today, with participation from Gaorong Capital, 5Y Capital, and Source Code Capital. Up to now, XYZ Robotics has accumulated over USD 100 million in financing.  

Founded in 2018, XYZ Robotics focuses on providing industrial 3D vision products with real-time motion planning, logistics picking, and depalletizing stations for logistics and manufacturing customers.

Unitree Robotics

Unitree Robotics (Chinese: 宇树科技), a Quadruped robot company, announced a Series B financing round worth hundreds of millions of CNY on April 20, led by Matrix Partners and Dunhong Capital, with participation by Hexagon AB (HEXA-B.ST). Existing shareholders Shunwei Capital, Winreal Investment and Shenzhen Capital Group also made a follow-on investment in the robotic startup. Winsoul Capital (Chinese: 云岫资本) acted as its exclusive financial advisor.

Established in 2016, Unitree Robotics is the only company in China that has achieved mass manufacturing of quadruped robots for both consumer and business applications.

HGC Tech

HGC Tech (Chinese: 华引芯) received CNY 200 million (USD 30.52 million) in a Series B2 funding round on April 27, led by Hongtai Aplus Fund, with continued follow-on investment from its existing shareholder Guozhong Venture Capital. So far, HGC Tech has completed six rounds of funding for cumulative hundreds of millions of CNY from investors such as Guozhong Venture Capital, Ttgg Asset and Degui Capital.

Founded in 2017, HGC Tech is an innovative high-tech enterprise focusing on the R&D, packaging and testing of high-end light source chips and optical devices.

H-Chip Tech

H-Chip Tech (Chinese:华慧芯科技), a chip developer, announced its completion of a Series B financing round worth hundreds of millions of CNY on May 11, led by China Merchants Venture, with participation from SCGC Group, Northern Light Venture Capital and China Jingjinji National Center of Technology Innovation.

Founded in 2017, H-Chip Tech is in the upstream chip manufacturing segment of the optoelectronic industry, focusing on the design, R&D and production of micro and nano-structured optical chips and laser chips.

Ada Intelligent Equipment

Ada Intelligent Equipment (Chinese:阿达智能) completed its Series B financing worth several hundreds of millions of USD on June 6, led by CDH Fund, followed by Science and Technology Investment Fund, Guangdong Semiconductor and Integrated Circuit Industry Fund and Xinchao Group, and further invested by the existing shareholders Chuangdong Investment and CASSTAR. 

Established in 2017, Ada Intelligent has been committed to developing core technologies for high-precision semiconductor solid-state machines, flip-flops, high-density wire bonding machines, wafer-level packaging equipment, board-level packaging equipment, and microLED mass transfer equipment.

LeSheng Smart

LeSheng Smart (Chinese: 乐生智能), a Chinese ODM intelligent sweeping robot manufacturer established in 2017, announced its completion of a Series A+ round of financing worth nearly CNY 200 million (USD 31.38 million) on April 13, led by the sole investor Fortune Capital.

LeSheng Smart’s product line includes intelligent sweeping robots, hand-held vacuum cleaners, floor cleaners, smart tower fans, smart pet products, air cleaners and so on.

Epicmems

Epicmems (Chinese: 开元通信), a 5G RF chips developer for the communication industry, bagged hundreds of millions of CNY from its Series A+ round of financing on April 24, led by Hongtu Zhanlu Equity, with participation by Foxconn Industrial Internet, Guang Si Da, Oriental Fortune Capital, Hillhouse Capital, Sequoia, KIP Capital, and Oriza Holdings and existing shareholders IDG Capital, Shunwei Capital, Qinhe Capital and Hua Capital.

Established in 2018, Epicmems is a chip company focusing on RF front-end solutions. The company has the most complete series of BAW filter products on China's mainland and is the only company in mainland China with full coverage of RF technology.  

LIONGO New Energy

LIONGO New Energy (Chinese: 蓝固新能源)  announced the completion of nearly CNY 200 million (USD 30.52 million) Series A funding round on April 26, led by Oceanpine Capital, with participation by renowned investment institutions and companies such as CAS Fund of Funds, JN Tech, JZ Capital and Shanxi HCXF Group.

Founded in 2021, the company seeks to build its capacity to customize and provide comprehensive electrolyte material solutions for customers and become a leader in new types of electrolyte materials. 

INMO

Shenzhen Inmo Technology (INMO, Chinese: 影目科技), an augmented reality (AR) smart glass company, announced its Series A financing round worth tens of millions of USD on May 16th, led by Hello Group (NASDAQ: MOMO), a social entertainment giant in China. MM Capital acted as its exclusive financial advisor.

Established in 2020, INMO is a leading AR smart glasses R&D manufacturer, committed to smart glasses research and development, equipment and solution design.

Leekr Technology

Leekr Technology (Chinese: 利氪科技), a chassis-by-wire system solution provider in China, announced Series A and Series A+ financing round worth CNY 200 million on May 19, led by Vision Capital and Sinovation Ventures, with participation by Shanghai Free Trade Zone Equity Fund and its Lingang Xinpian Science and Technology Innovation Fund, and Unity Ventures.

Founded in 2021, Lekrypton Technology is committed to providing safe, efficient and intelligent wire-controlled chassis complete solutions to automotive companies and industrial partners.

Orienspace

Chinese space launch startup Orienspace (Chinese: 东方空间) raised USD 59.9 million in a Series A financing round on May 20, led by Hike Capital, followed by Minyin International, miHoYo, Vision Plus Capital and existing shareholder Pagoda, among other institutions.

Founded in 2020, Orienspace has been committed to developing a mature methodology and process classification standards for core technology of medium-and-large-sized commercial launches.

Geek

GeekTechnology company (Geek, Chinese:极咖科技), a smart home appliances provider, closed tens of millions of USD in Series A financing on May 6, led by NBT Capital, followed by Challenger Capital, with Asia Pacific Capital as the exclusive financial advisor.

Founded in 2016, Geek has two series of acquired brands - EmersonQuietKool and GEEK. It focuses on electric kitchen appliances, small household appliances, smart home products, research and development, and sales.

ZEEMR

ZEEMR(Chinese:知麻), a next-generation home smart projection maker, announced the completion of a Series A funding round worth 100 million RMB before April 8, led by CICC, with a post-investment valuation of over 1 billion RMB.

Established in 2017, ZEEMR is an innovative technology brand integrating R&D, production and sales.  It focuses on building home intelligent projection products.

Mitao

Mitao (Chinese: 觅淘智联), a home gym equipment maker in China, announced its angle round worth USD 30 million on June 22, led by IDG.

Established in 2020, Mitao has been committed to providing electronic intelligent fitness management hardware and software equipment and services for fitness enthusiasts. The main product of Mitao is a high-end home intelligent strength training device, the S Plan Model S.

Xianglu Tech

Xianglu Tech(Chinese:橡鹭科技), a service robotics company, announced its completion of a pre-Series A financing round worth hundreds of millions of CNY on April 25. This funding round was led by Tencent Investment and IDG Capital, with follow-on investment from long-time shareholder Source Code Capital.

Founded in July 2021, Xianglu Tech focuses on the R&D of robotics technology and its real-life applications across a variety of daily scenarios. Its products cover hotel self-service terminals, delivery service robots and other categories.

WEFLY

WEFLY (Chinese:齐飞航空科技(苏州)), a Chinese eVTOL startup, raised tens of millions of USD in an angel financing round from INCE Capital and Linear Capital on May 5. Wave Capital acted as the sole financial adviser in this round.

WEFLY is a new eVTOL startup company in China, with core team members from internationally renowned civil aircraft manufacturers who have led airworthiness certification for several world-class large civil and business aircraft projects.

Zunpai Communication

Zunpai Communication (Chinese: 尊湃通讯), a Chinese Wi-Fi chip manufacturer, has completed a Pre-Series A financing round for other hundreds of millions of CNY before May 9. The investors in this round include Xiaomi Group, Allin Capital, FutureX Capital, Vision Knight Capital and other well-known financial investment institutions.

Established in 2021, Zunpai Communication is committed to providing high-performance, full-range Wi-Fi router AP SoC chips and complete solutions for families and companies.

Hjmcro

Hangzhou Hongjun Microelectronics technology (Hjmcro, Chinese: 鸿钧微电子), announced the completion of its Angel and pre-Series A financing round worth CNY 800 Million on May 31, led by Walden International, Hillhouse Ventures, and CDH VGC, with participation by Biren Tech, Xinlanwei, Chendao Capital, Xingrui Capital, and other industry-leading institutions.

Founded in 2021, Hjmcro is committed to the R&D of the Central Processing Unit (CPU) based on Acorn reduced instruction set computer (RISC) Machine (ARM) architecture, driving the revolution of global data centers.