Harbin No. 1 Tools Manufacturing Company Limited, a China-based producer of complex cutting tools, has received a 120m RMB (US$18m) investment from Infinity Group.
According to a press release, the investment will support the advancement of the company’s technological capabilities with the goal of competing on the international market.
Infinity Group is a Tel Aviv-based private equity firm that manages eleven funds, nine in China. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China.