- Series A RoundUSD 15M — Amount: Nearly RMB 100M; Approx. USD 14.7M (converted at 1 USD = 6.8 CNY); Led by: NIO Capital (exclusive lead) | Industrial capital weight significantly increased: Behind NIO Capital is NIO Inc. (dual layout in smart cars + humanoid robots); Xiamen Tungsten Industry Fund is associated with rare earth permanent magnet materials, a key upstream resource for encoders; Sungrow Power Supply Industry Fund focuses on industrial control and new energy, possessing manufacturing customer resources. Funds are used to accelerate the scaled deployment of inductive encoders in robotics and high-precision manufacturing. Wan Chuang Investment Bank served as financial advisor. ⚠️ Company database records amount as USD 148.8M (approx. RMB 1.01B), inconsistent with official 'nearly RMB 100M', see caliber note 1. | Source: STAR Market Daily · Robot Forward · Sensor Expert Network · OFweek
- Pre-Series A+ RoundUndisclosed — Amount: Undisclosed; Led by Haiwang Capital. Exclusive investment by Shanghai Pudong Integrated Circuit Industry Fund; local state-owned capital completed additional injection at year-end, holding approx. 5.65% (as of early 2026 business registration records). ⚠️ This round is completely missing from the Frontier Company Database; recommended for supplementary entry. Source: Baidu Baike · 36Kr.
- Pre-Series A RoundUndisclosed — Amount: tens of millions of RMB; approx. USD 4.4–14.7M (converted at 1 USD = 6.8 CNY, amount range undisclosed); led by SMIC Capital (industrial platform under SMIC) | Semiconductor industrial capital (SMIC Capital) and healthcare background fund (Honghui) participated together, with existing shareholder Sequoia China adding investment. After this round, the company completed the initial rollout of production capacity and product lines in the encoder track. ⚠️ Company database records this round as 2025, which is inconsistent with business registration and media reports dated 2024-05-10. Some sources list Haiwang Capital in this round, while others list them as the exclusive investor in the Pre-A+ round; this page attributes them to the Pre-A+ round based on business registration changes. | Source: STAR Market Daily · 36Kr · Baidu Baike
- Angel RoundUndisclosed — Amount: Undisclosed; Led by HongShan | Completed angel round just 2 months after company establishment (Wuxi entity registered on January 10, 2023), HongShan's earliest bet in the inductive encoder track. In July of the same year, the company released its first servo motor encoder, and in March 2024 launched robot-specific inductive encoders. ⚠️ The company database records this round as 2022, inconsistent with business registration changes and media reports dated March 22, 2023. | Source: Baidu Baike · 36Kr · Sensor Expert Network
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