Laser Device Maker Gweike Bags Nearly CNY 100 Million in Strategic Funding

Technology Author: Yiran Xing May 12, 2022 09:15 PM (GMT+8)

The laser, also known as the "fastest knife," is commonly used to cut various industrial materials.

laser processing

Laser application equipment solutions provider Gweike (Chinese:金威刻) recently announced the completion of a strategic funding round of nearly CNY 100 million, led by Addor Capital.

The money will be mainly used to develop products and build a new intelligent factory.

Wang Yinzhi, Investment Director of Addor Capital, said that the Chinese laser equipment market has continued to grow in recent years, driven by industrial upgrading and China's "dual carbon goals,”where the country vows to cap its carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.

China Laser Industry Development Report (2022), an industry report released by Chinese Academy of Sciences, the highest advisory body on science and technology in China, shows that the market for laser cutting equipment in China was CNY 28.01 billion (USD 4.12 billion) in 2021 and is expected to grow to CNY 30 billion (USD 4.42 billion) in 2022.

Jiang Xifeng, Chairman of Gweike, said that the company attaches importance to the research and development of new products and technological innovation. Nearly 15% of the company's employees are R&D staff, and it strives to develop more than five new products every year.

Gweike wants to combine laser R&D, production, sales and service to create an integrated industrial chain and service system, Jiang Xifeng added.