New Core Tech, a Shanghai, China-based manufacturing company, raised $35 million in Series C funding led by XiaoMi.

Shunwei Capital, Northern Light Venture Capital, and Cowin Capital also participated in this round.

The company intends to use the funds to partnership and channel expansion and talent acquisition.

Company: New Core Technology (Xinyunhe)

Raised: $35.0M

Round: Series C

Funding Month: September 2021

Lead Investors: XiaoMi

Additional Investors: Shunwei Capital, Northern Light Venture Capital, and Cowin Capital

Company Website: https://www.xinheyun.com/

Software Category: Discrete manufacturing platforms

About the Company: Led by Binjiang Tao, CEO, New Core Tech is SaaS and aPaaS based discrete manufacturing platforms featuring Cloud MES (Manufacturing Execution System), Cloud ERP (Enterprise Resource Planning), TPM (Total Productive Maintenance), and TQM (Total Quality Management) models. Smart factory solution has been used by thousands of factories in China to accomplish digital transformation through the intelligence decision-making process, manufacturing data collection, data analysis. Clients include ENN Group, ZhongZhou Group, etc.

Source: https://www.finsmes.com/2021/09/new-core-tech-raises-usd-35m-in-series-c-funding.htmls