Dangwu completes 80 million yuan A round of financing

Dangwu was established in October 2017. The team built indoor location cloud services around geomagnetic positioning technology.

Indoor location service provider Dangwu (Shiyu Technology) completed the A round of 80 million yuan financing, led by G5 Capital, Liuheqiao Venture Capital, and the existing shareholder Hangzhou Haibangfenghua Investment Management (Fenghua VC) also participated in the round.

Proceeds of the round will be mainly used for team expansion and boosting market coverage.

Dangwu was established in October 2017. The team built indoor location cloud services around geomagnetic positioning technology.

Currently, Dangwu has launched the navigation product “Xiaowu” and the data marketing product “Dangwu” for commercial real estate projects, helping the offline retail industry to achieve digitization and precise marketing.

It has deepened cooperation with industry leaders such as New World Group, IKEA Group, Taikoo Hui Group, and Taiwan ASE Group.

In the industrial use cases, Dangwu launched the personnel positioning management product “YuAn” and the real-time data analysis product “Engine A” to help improve the efficiency of production workers and emergency warning and rescue services.

Besides, the industrial products also play an important role in use cases such as smart healthcare, future communities, smart cities, and airports. Typical cases include those of China General Nuclear Power Group and Pudong Airport.

In January this year, the ” Microsoft Indoor Localization Competition” jointly organized by Dangwu and Microsoft officially kicked off. Dangwu opened a large-scale indoor localization data set  called XYZ-NET containing the location information of more than 1,000 real commercial entities for participating teams globally.

Less than a week after the competition was launched, more than 160 professional teams from nearly 60 countries and regions participated. There are more than 200 times of data submissions every day, and the first player tried more than 30 times, and the margin of error is reduced to 8 meters.

The underlying data acquisition method of indoor cloud services relies on geomagnetic positioning technology, and Dangwu is a leader in the industrialization and application of this technology.

Dangwu takes advantage of the universality of the earth’s magnetic field to create a set of indoor positioning cloud service systems oriented to industrial scenarios without relying on a large number of hardware deployments.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2021/02/23/dangwu-completes-80-million-yuan-a-round-of-financing/.

Leave a Reply

Please Login to Comment