Xinyun Tech completed nearly 400 million RMB in Series B financing
新闻分类:Company News
发布时间:2020-09-29 19:18:46
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Recently, Hangzhou Xinyun Technology Co., Ltd. announced the completion of a Series B financing of nearly 400 million yuan. This round was led by Zhongjin Fengtai Fund, a subsidiary of CICC Capital, with IDG Capital, Zhechuang Haoyu Fund, Haitong Innovation, Zhejiang University Youchuang, and Hengjin Capital following the investment. The existing investor Puhua Capital continued to invest.
Xia Xiaoliang, CEO of Xinyun Tech, said: “In the next 10-20 years, we will usher in an era of continuous iteration of new technologies and rapid industrial changes. In the past 100 years, the acquisition, transmission, calculation and exchange of information using electronics as an information carrier will Ushering in disruptive changes: Light as an information carrier for ultra-high speed communication and perception has significant natural advantages. With the improvement of the overall manufacturing process level, it will gradually challenge the digital information infrastructure of the traditional information society with electronics as the information carrier. Since its inception, Xinyun Tech has been committed to providing global customers with high-performance, high-reliability, and cost-effective optoelectronics solutions, especially in meeting the needs of the rapidly growing Chinese telecom and cloud computing markets. Silicon photonics, and optoelectronic radio frequency chips are the key areas and directions of Xinyun Tech's attention and cultivation. We hope to contribute our modest efforts to the development and progress of the industry. We sincerely thank the large number of outstanding investment institutions in the industry for their attention, support and help to Xinyun Tech. I am even more pleased that Xinyun Tech has ushered in a group of investors with forward-looking vision, high professionalism and industrial sentiment in China to become our new shareholders and partners."
IDG Capital partner Wang Xin said: "The technical threshold and added value of optoelectronic chips used in optical modules are high, especially the current localization rate of high-speed optoelectronics chips is still low, and the market space is broad. As a 5G communication and data center communication infrastructure, the industry is facing a rare period of development opportunities. Xinyun Tech has a deep accumulation of technology and industrial resources in the field of high-speed optoelectronic chips. The company has completed the design of many high-speed optoelectronics chips and achieved large-scale market sales. We are optimistic and believe that the Xinyun Tech can seize the opportunity of this industry development and achieve long-term development in the field of high-speed optical communication semiconductor."
Shen Qinhua, founding managing partner of Puhua Capita, said: "Since its establishment three years ago, Xinyun Tech has achieved significant growth in terms of team, technology, products, and markets. Optical devices and chips are the core technological competitiveness of optical communication enterprises, especially the optical communication chip. The overall strength of China’s optical devices and chip companies is still weak, and the products are mainly concentrated in the middle and low-end field, and high-end optical chips are heavily dependent on imports. Therefore, it is imperative to develop an independent optical chip industry and technology made in China. Puhua Capita saw this trend and invested in Xinyun Tech three years ago, and has continued to increase the number of financing since then. In the future, Puhua Capita will continue to spare no effort to support the development of Xinyun Tech. "
After this round of financing, the funds raised will be used to expand production scale and infrastructure construction, support product research and development and equipment investment, accelerate domestic and international business layout and expansion, and further enhance the core competitiveness of Xinyun Tech. At the same time, Xinyun Tech will focus on production capacity and quality, and ensure high-end, efficient and high-quality delivery by expanding production scale and establishing a more complete quality system. Thanks to all investors, partners, customers and suppliers who care about the growth of Xinyun Tech. The future is here. We sincerely invite all colleagues to continue to support and witness the era of great changes.