EMGO-TECH, a laser inspection provider, announced its Series A and A+ financing round worth more than CNY 50 million(USD 7.03 million), led by Yongpan Venture Capital.
EMGO-TECH(Chinese:光恒科技), a laser inspection provider, announced its Series A and A+ financing round worth more than CNY 50 million(USD 7.03 million), led by Yongpan Venture Capital, with participation by Guangzhou Haizhi Venture Capital, Destination Beyond Investment and Zhuhai Xiangzhou Zhirong Venture Capital.
EMGO-TECH is a "core component + system application" laser industry company. It has both hardware and software technology development and production capabilities to provide a full range of laser inspection solutions.
The money will be mainly used for plant expansion, new laser measurement equipment development, and mass production.
Cao Dingxiang, deputy general manager of Guanghang Technology, said that in the future, it will also target the Optical Current Transducer(OCT) coherent optical detection and intelligent driving market, and develop pan-semiconductor detection and autonomous driving-related products.
China's laser processing equipment market occupies the largest market share in the laser industry, with the fastest development rate and the most significant future market development space. Preliminary estimates of the market size of China's laser industry in 2021 is CNY 205.5 billion, an increase of 17.6% year-on-year.
The two major supporting businesses of EMGO-TECH are fiber laser devices and new laser application equipment. Its core components include thousands of models, including isolators, circulators, beam splitters, and many other product categories. Its market share in the ultra-fast laser segment (high-end passive devices) is over 50%.
EMGO-TECH's international competitors include Aeva(US) and Luminar(US), and domestic ones include Focus Light(688167.SH, Chinese:炬光科技), Robosense(Chinese:速腾聚创), and Luminwave(Chinese:洛微科技).