{"id":5624,"date":"2021-03-22T06:26:03","date_gmt":"2021-03-22T06:26:03","guid":{"rendered":"https:\/\/techclot.com\/index.php\/2021\/03\/22\/chinas-state-backed-industrial-internet-platform-casicloud-bags-404m\/"},"modified":"2021-03-22T06:26:03","modified_gmt":"2021-03-22T06:26:03","slug":"chinas-state-backed-industrial-internet-platform-casicloud-bags-404m","status":"publish","type":"post","link":"https:\/\/techclot.com\/index.php\/2021\/03\/22\/chinas-state-backed-industrial-internet-platform-casicloud-bags-404m\/","title":{"rendered":"China’s state-backed industrial internet platform CASICloud bags $404m"},"content":{"rendered":"

China’s state-backed industrial internet platform CASICloud bags $404m<\/a><\/p>\n

<\/div>\n

CASICloud-Tech Co., Ltd, a developer of cloud-driven industrial internet platforms, has garnered 2.632 billion yuan ($404 million) from 17 marquee investors, the company said in a statement dated March 17.<\/p>\n

It added that the new round marks the largest single funding in the industry in the country.<\/p>\n

The round was co-led by China\u2019s state-backed investors including ICBC Capital, the investment arm of Industrial and Commercial Bank of China (ICBC), and China Merchants Capital, besides Shenzhen Capital Group.<\/p>\n

With the new funding, CASICloud will accelerate the developments linking to tech-innovations, cloud platform ecosystems, market expansions, as well as assets management.<\/p>\n

The fundraising comes less than a week after China\u2019s State Council, in its Fourteenth Five-Year Plan, stressed on the need to facilitate the added value of the Chinese economy\u2019s core sectors to 10% by 2025, up 2.2% compared with 2020. The core sector includes cloud computing, big data, IoT, the industrial internet of things, blockchain technology, AI, virtual reality, and augmented reality.<\/p>\n

CASICloud, which is backed by state-owned aerospace and defence equipment giant China Aerospace Science and Industry Corporation, is designed to support the transformation of smart manufacturing through delivering new generation industrial internet platforms and tools.<\/p>\n

The developer\u2019s flagship platform INDICS, a versatile system integrating cloud computing, IoT, big data, and other machine learning technologies, can help enterprises improve operational efficiency.<\/p>\n

The Beijing-based CASICloud claims to have served over 800,000 industry conglomerates like China Mobile, China Telecom, China State Construction, Sinopec, State Grid, and China Resources, among others.<\/p>\n

Before the latest transaction, CASICloud closed two other rounds of financing from China Aerospace Science and Industry, Aerosun Corporation, Avic Const Group, Honghui Holdings, and Xinsheng Capital, among others.<\/p>\n<\/p>\n

Published at Mon, 22 Mar 2021 05:26:15 +0000<\/p>\n","protected":false},"excerpt":{"rendered":"

China’s state-backed industrial internet platform CASICloud bags $404m CASICloud-Tech Co., Ltd, a developer of cloud-driven…<\/p>\n","protected":false},"author":12,"featured_media":5623,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[61],"tags":[],"class_list":["post-5624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-augmented-virtual-reality"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/techclot.com\/wp-content\/uploads\/2021\/03\/X2zYFY.jpg?fit=1200%2C815&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3orZX-1sI","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/posts\/5624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/comments?post=5624"}],"version-history":[{"count":0,"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/posts\/5624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/media\/5623"}],"wp:attachment":[{"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/media?parent=5624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/categories?post=5624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techclot.com\/index.php\/wp-json\/wp\/v2\/tags?post=5624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}