Shenzhen Gongda Laser, which is engaged in the manufacture of green, ultraviolet fibre lasers, has bagged 100 million yuan ($14.5 million) in a Series B round led by Xiaomi.
Shanghai-listed machine vision and optical communication service provider LUSTER LightTech joined the round, according to a company release on December 11.
The proceeds will be used to expand the firm’s production capacity, as well as ramp up R&D and marketing channels, per the release.
Founded in December 2019, the Shenzhen-based firm previously sealed its 100-million-yuan ($15 million) Series A funding round in July 2022 backed by China Growth Capital and China Fortune-Tech Capital.
The deal marks yet another investment by Xiaomi this month. The Chinese smartphone maker has backed EV chassis maker Tongyu Automotive and electromechanical braking system developer Reavis, according to DealStreetAsia’s proprietary data.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in the Greater China region from December 11–17, 2023.