Cardinal Operations, a China-based supply chain services provider backed by consumer electronics manufacturer Lenovo, has secured more than RMB100m ($14.4m) in series A funding, DealStreetAsia reported yesterday, citing a WeChat post.
The round was led by Vertex Ventures China, a branch of Singaporean state-owned venture capital group Vertex Ventures, and it took Cardinal’s total funding past $22m according to DealStreetAsia.
Founded in 2015, Cardinal runs an enterprise resource planning platform that uses big data, cloud computing and artificial intelligence technology to help customers in the textile and clothing industry optimise their supply chains.
Lenovo subsidiary Lenovo Capital had reportedly joined Pagoda Investment and Jiangmen Ventures to provide $5.8m for the company in 2018, two years after it raised $2.1m from Northern Light Venture Capital and ZhenFund.
