Chinese media outlet 36Kr reported today that recently, Laxcen Technology Inc., announced the completion of a new round of financing worth 170 million yuan ($26.58 million).
Investors included the state-owned Assets Supervision and Administration Commission of Zhuhai People’s Government, Sharelink Capital, Bowei Investment, Enshe Capital, and others, as well as long-standing shareholder, Envision Capital.
The funds are earmarked for business expansion related to computer chips, the Internet of Things (IoT) and to accelerate the development of smart-terminal businesses.
The China-Belgium Direct Equity Investment Fund, Cowin Capital, as well as Turbo Capital, invested in Laxcen’s last round of financing.
Laxcen Technology, founded in 2012, is a provider of RFID (radio frequency identification) products and solutions for IoT. The company has an elite R&D team, advanced product design and manufacturing capabilities and global partners, and has won 120 patents.
Its product line meets a wide range of IoT industry applications, including NFC (near field communication) and RFID hardware, electronic tags and solutions. Its products are applied in clothing, aviation, retail, logistics, supply chain, library and other industries.
Up until now, Laxcen has provided end-to-end products and turn-key solutions to over 1,500 customers in more than 50 countries and regions around the world.