Industrial equipment detection provider Sucheon Technologies has completed its Series B1 round of financing raising nearly 100 million yuan ($15 million), per its announcement on Friday.
The fresh round was led by Sunshine Insurance Group’s Riverhead Capital, with participation from Xiamen Venture Capital and existing investor Shunwei Capital.
Proceeds from the latest funding will be used to spruce up technology, product lines, sales channel and talent, per a company statement.
The Xiamen-based Sucheon leverages AI, machine learning and equipment noise analysis to offer services such as predictive maintenance, automatic quality inspection, abnormal noise alarm, equipment remote monitoring, production line monitoring, among others.
Its early-stage investors include Plum Ventures, Telescope Investment, Tsing Ventures, Momentum Capital, Kevin Capital, and COCOCAPITAL Corporation.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on October 14 – 15, 2021.
