Gizwits(Chinese:机智云), an IoT cloud service provider, completed Series C1 financing round worth hundreds of millions of CNY, led by Meridian Capital, with participation by Paradigm Ventures.
Gizwits(Chinese:机智云), an IoT cloud service provider, completed Series C1 financing round worth hundreds of millions of CNY, led by Meridian Capital, with participation by Paradigm Ventures.
The funds will mainly be used for new technology research and development and business expansion.
Founded in 2006, Gizwits focuses on the Internet of Things(IoT) and artificial intelligence technology. Gizwits provides customers with digital management operations for the whole life cycle of IoT products, including product research and development, connection management, device management, data collection, application development, data analysis and decision, AI application and predictive maintenance, asset leasing, and other functions.
Huang Zhuo, the founder and chairman of Gizwits, said that they focus on high-value scenarios with high platform dependence and security. These IoT products have a high unit price and high data value.
In recent years, industrial IoT has been in a stage of rapid development. According to Zero2IPO Group, the scale of industrial IoT connection has reached CNY 2.6 billion in 2021 and is expected to reach CNY 4.9 billion in 2025. Meanwhile, the PaaS market is expected to grow from USD 73 billion in 2019 to USD 172 billion in 2024.
Gizwits has created a 5G+AIoT platform covering IoT, big data and artificial intelligence, which can provide corresponding solutions for industrial Internet, transportation/new energy, intelligent agriculture, logistics/transportation, smart home, and other industries.
Gizwits's international competitors include Cisco(US) and Bosch(Germany), and domestic ones include Urovo (300531. SZ, Chinese:优博讯), Communication Software(Chinese:康索特), and uniview(Chinese:宇视科技).