DEEPEXI secures USD50m in a Series A+ financing round

The press conference on DEEPEXI’s DEEPEXI®3.0 new product launch and its Series A+ financing round was held in Shenzhen. At the event, DEEPEXI officially announced the completion of a Series A+ round of 50 million US dollars.

The press conference on DEEPEXI’s DEEPEXI®3.0 new product launch and its Series A+ financing round was held in Shenzhen. At the event, DEEPEXI officially announced the completion of a Series A+ round of 50 million US dollars.

The round was led by Hillhouse Capital, Bertelsmann Asia Investments (BAI), and Sanxia Xintai Investment, with participation from China Merchants Venture Capital, Morningside Venture Capital, IDG Capital, Chuxin Capital, Lighthouse Capital.

Established in June of 2018, DEEPEXI provides intelligent enterprise digitization platforms that are based on advanced technologies like 5G, Internet of Things (IoT), big data, AI and cloud computing.

It mainly helps corporate customers lift operation efficiency by digitizing their manufacturing, as well as consumer engagement that includes sales, retail, distribution, marketing channel, and membership management, among others.

To date, it has more than 50 large and medium-sized corporate clients in the fields of retail, fast-moving consumer goods (FMCG), automobile, 3C electronics, cosmetics, real estate, and industrial.

Proceeds of the new round will be used for the research and development of intelligent digital products, business expansion, and talent recruitment.

The startup secured $35 million in a Series A round led by Asia-focused private equity major Hillhouse Capital, Morningside Venture Capital, and IDG Capital in September 2019. It also raised a Series Pre-A round in March 2019 and an angel round in November 2018. The total funding amount in the initial two rounds was close to 100 million yuan.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/30/deepexi-secures-usd50m-in-a-series-a-financing-round/.

Leave a Reply

Please Login to Comment