Hangzhou-headquartered laser technology firm Ultron Photonics Inc has raised nearly 100 million yuan ($15 million) in its Series A round of financing led by Xiaomi’s Shunwei Capital.
The Series A round funding was joined by Qitang Changhou Investment, a joint fund by state-owned Beijing E-town International Investment & Development and display control solutions provider Chipone Technology (Beijing) in 2018.
Sinowisdom and Langcheng Capital re-upped in the round.
Ultron plans to invest the funding proceeds for new product development, technology innovation, and recruitment.
The firm produces high-power laser fibers and core optoelectronic components that cater to consumer electronics and healthcare industries.
Its early-stage backers include CasStar, Lime Capital, laser machine manufacturer Micromach and Hangzhou Oushi Investment.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on September 02-03, 2021.
