New Core Tech, a Shanghai, China-based manufacturing company, raised USD 35M in Series C funding.
The round was led by XiaoMi, Shunwei Capital with participation from Northern Light Venture Capital and Cowin Capital.
The company intends to use the funds to partnership and channel expansion and talent acquisition.
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. Its smart factory solution has been used by thousands factories in China to accomplish digital transformation through intelligence decision making process, manufacturing data collection, data analysis.
Clients include ENN Group, ZhongZhou Group etc.