Shanghai H Visions Technology, a China-based industrial management software provider backed by electronics manufacturer Zhongyeda Group, has raised just over RMB100m ($14.2m) in series C funding, DealStreetAsia has reported.
The round was led by Hangzhou Oriental Jiafu Asset Management, a private equity vehicle for government-owned trading group Zhejiang Oriental Financial Holdings, and included VC firm Redpoint China Ventures, according to a statement cited by DealStreetAsia.
H Visions has built a software platform that utilises artificial intelligence to help industrial manufacturers manage their production, internet-of-things systems, data and energy use while ensuring all processes are conducted efficiently and standards are kept high.
The company received the series C financing shortly after agreeing to construct an industrial internet platform for China’s Liaoning province in partnership with electrical equipment producer Shanghai Electric, Shanghai Jiao Tong University and the state-owned China Center Information Industry Development.
Zhongyeda had joined venture capital firm Ruiye Capital to provide an undisclosed amount of series A funding for H Visions in 2016.
The company subsequently secured a further $15.7m in a May 2018 series B round led by Redpoint China Ventures that also featured fund-of-funds manager Qianhai FOF.
Photo courtesy of Shanghai H Visions Technology Co., Ltd.
