Xinyi Information Technology nets nearly RMB200m in Series A+ round

Xinyi Information Technology has garnered nearly 200 million yuan in a Series A+ round of financing. This round was led by CTC Capital Partners, with participation from SinoWisdom and three existing investors Frees Fund, Oriental Jiafu Asset Management and Septwolves.

Xinyi Information Technology has garnered nearly 200 million yuan in a Series A+ round of financing. This round was led by CTC Capital Partners, with participation from SinoWisdom and three existing investors Frees Fund, Oriental Jiafu Asset Management and Septwolves.

The company said that this financing round is by far the largest single financing in the Chinese NB-IoT industry. The proceeds will mainly be used to manufacture existing NB-IoT chip products, research and design next-generation chip products, and explore downstream market segments, and accelerate industrial applications.

Xinyi Information Technology was founded in Shanghai in March 2017, and currently focuses on the R&D, production and sales of NB-IoT chip products for narrow-band Internet of Things. In the future, it will further develop other IoT terminal technologies and applications including sensing and edge computing and strive to become a supplier of SoC chips and solutions for Internet of Things terminals.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/14/xinyi-information-technology-nets-nearly-rmb200m-in-series-a-round/.

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