China-based optical technology producer Beijing Yuguang Science and Technology Development has received RMB100m ($14m) in a series B-plus round featuring consumer electronics provider Lenovo, DealStreetAsia has reported.
China Merchants Venture, a branch of state-owned asset manager China Merchants Group, led the round, which included Cathay Capital, while Lenovo took part through its Lenovo Capital and Incubator Group.
Yuguang provides diffractive optics and micro nano-optics technology for use in systems such as machine vision and 3D scanning, sensor and object recognition platforms.
The company raised an eight-figure renminbi amount in 2016 before adding approximately $9.1m in November 2017. Lenovo Capital, THG Ventures and Cathay Capital Foundation provided $14m earlier this year.
The company’s earlier backers include Baidu Ventures, a corporate venturing subsidiary of internet group Baidu, as well as Shunwei Capital, Sequoia Capital China and ZhenFund, according to DealStreetAsia.
