Uniontech Software Technology, a China-based operating system developer backed by internet-of-things technology provider ArcherMind, has received RMB1.1bn ($168m) in series A funding, DealStreetAsia has reported.
The round was led by state-owned investment firm Beijing E-Town International Investment & Development with backing from Shenzhen Capital Group, Shanghai Guohe Capital and Gaorong Capital. It valued Uniontech Software at about $734m.
Uniontech was formed to combine ArcherMind’s Unity operating system project with an existing Linux-based platform then owned by peer Wuhan Deepin Technology.
The product is intended to offer a domestic alternative to Microsoft Windows for commercial IT clients, and now encompasses elements of Wuhan Deepin’s software. It has partnership agreements with several local semiconductor producers having reportedly launched the first iteration of Unity in December 2019.
Uniontech’s chairman Wang Jiping reportedly told a company meeting last week it is on track to go public in China in the next few years.
ArcherMind remains Uniontech’s largest shareholder following the series A round but has had its stake diluted from 44% to 32.5% according to DealStreetAsia, which cited a Chinese regulatory filing.