AAA NeuCloud manufactures series B funding

NeuCloud manufactures series B funding

NeuCloud, a China-based industrial internet-of-things (IoT) technology developer backed by data management services provider Eisoo, has raised RMB100m ($14.4m) in series B funding, China Money Network has reported.

The round was led by Fortune Capital and included fellow venture capital firm Yunqi Capital and investment firm Cornerstone Capital.

Founded in 2013, NeuCloud has created a platform called NeuSeer that applies cloud computing, artificial intelligence and big data technology to information from industrial IoT devices. Its clients include oil and gas, railway and electronics businesses.

The company will use the capital to fund product development. It is working on tools to help its clients plan equipment maintenance and optimise production quality.

Eisoo reportedly provided an undisclosed amount of angel funding for NeuCloud in 2015, before joining FH Capital for a $1.5m series A round the following year.

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