China-based automation technology provider TZAuto has secured tens of millions of dollars from investors including an industrial fund owned by consumer electronics producer Xiaomi, DealStreetAsia reported on Friday.
The funding was raised across series B and B-plus rounds that also included Yuantou Capital, Haitong and Anxin Capital, all of which were billed as existing backers.
The series B-plus round additionally featured Oriza Holdings, which invested through its Oriza Hua and Oriza Rivertown funds, as well as Triniti Capital, Redstone Capital, CMB International and China’s State Development and Investment Corporation.
TZAuto provides automation technology for semiconductor manufacturers for use in intelligent manufacturing operations. It said in a WeChat message announcing the funding that it has secured a nine-figure dollar valuation in its latest round.
Xiamen Semiconductor Investment Group, Yinxinggu Capital, Anxin Capital, Xinwei Capital, Chifortune Venture and Shanghai Capital had invested an undisclosed sum in the company in 2019, according to DealStreetAsia.
Haitong New Energy Private Equity Management reportedly added an undisclosed amount of funding for TZAuto in April this year.
