Shenzhen Storlead Technology closes RMB50m Series A financing round

Shenzhen Storlead Technology has completed the Series A round of financing invested by Xuchang Weidu Investment Corporation, raising 50 million yuan. In 2018, the company received tens of millions of yuan in angel round financing from QF Capital.

Shenzhen Storlead Technology has completed the Series A round of financing invested by Xuchang Weidu Investment Corporation, raising 50 million yuan. In 2018, the company received tens of millions of yuan in angel round financing from QF Capital.

Proceeds from the new round of financing will be mainly used for the construction of the first fully automated flash memory chip test line in China, the research and development of Open BMC chips and the continuous development of products for military applications.

Established in December 2016, Shenzhen Storlead Technology primarily provides complete solutions for computing, storage, encryption, and data security in the military industry to solve the major technical issues of independent control that are urgently demanded in the military industry.

The two main products currently promoted by the company are flash memory test equipment and open BMC chips. It pays attention to the independent research and development of the underlying technology of integrated circuits; and its products are expanding from military applications to commercial fields.

The company has completed the development of more than 20 military projects, covering airborne, radar, armor and other fields, and successfully gainedthecontract of a China13th Five-Year Plan project in 2019. Founder Chu Yibing said that sales revenue in 2020 are expected to exceed 200 million yuan.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/04/shenzhen-storlead-technology-closes-rmb50m-series-a-financing-round/.

Leave a Reply

Please Login to Comment