Wayz, a China-based provider of smart mapping software, has received $40m in a series A-plus round featuring corporates Shanghai Zhangjiang Hi-tech Park Development, Wind and Chengxin Credit Ratings, DealStreetAsia has reported.
Property developer Shanghai Zhangjiang Hi-tech Park Development, financial services data provider Wind and credit rating agency Chengxin joined Shanghai Pudong Science and Technology Investment, Henan Zhanxing Industrial Investment Fund, Lightspeed China Partners and BlueRun Ventures in the round.
Founded in 2017, Wayz provides geographic data and mapping products services to businesses operating in the smart retail, intelligent marketing, smart mobility and smart city sectors.
The company’s founder and CEO, Vincent Tao, was previously head of Asia for software provider Microsoft and was a founding member of its Microsoft Virtual Earth, LBS and Maps teams.
Lightspeed China Partners and BlueRun Ventures had previously provided $80m in series A funding for Wayz in 2018.