China-based industrial control technology provider TDHX has raised a total of almost RMB200m ($28.3m) in series C and C-plus funding, the latter led by telecommunications equipment maker ZTE, DealStreetAsia has reported.
Venture capital firm Addor Capital led the series C, and ZTE was joined by investment firm Green Pine Capital Partners in the series C-plus round according to a statement on TDHX’s WeChat account.
Also known as Tiandi Hexing, TDHX produces process control technology for use in the industrial sector. It automates functions such as the assessment of safety processes, the securing of industrial IT systems and analysis of activity.
The funding will go to research and development as the company seeks to improve its core technology, as well as the exploration of strategic partnerships. TDHX serves customers in industries like smart manufacturing, energy and transportation.
Software services provider Neusoft invested RMB7.6m in TDHX in 2016 before the company received $1.5m from VC firm CrestValue in April 2017.
