China-based industrial cybersecurity system developer Winicssec has secured RMB300m ($46m) in series D funding from investors including government-owned real estate developer Poly Group, DealStreetAsia reported yesterday.
The $31bn state-owned Capital Venture Investment Fund led the round, while Poly Group participated through its Poly Huixin Fund Investment Management vehicle.
Founded in 2014, Winicssec has developed cybersecurity technology for use in industrial and internet-of-things systems. It reportedly made a net profit of roughly $6m from about $40m in revenue in 2020.
Hanfor Capital led a 2018 series C round for Winicssec in the nine-figure yuan (RMB100m = $15.9m at contemporary rates) range, investing with cybersecurity software provider Qihoo 360, Hongjin Investment and existing backers Cybernaut Investment and Yuanyuan Venture Capital
Qihoo 360 subsidiary Qi-Anxin is Winicssec’s largest shareholder, with a 29.9% stake, according to DealStreetAsia, which reported it had taken part in a series C-plus round of undisclosed size for the company in July 2020.
