The Casic-backed, aerospace-focused industrial cloud software provider secured funding in a round co-led by China Merchants Capital, ICBC Capital and Shenzhen Capital.
CasiCloud-Tech, a China-based industrial cloud technology provider backed by aerospace and defence equipment manufacturer China Aerospace Science and Industry Corporation (Casic), has raised RMB2.6bn ($404m), China Space News has reported.
The Chinese state-owned China Merchants Capital and Industrial and Commercial Bank of China’s ICBC Capital subsidiary co-led the round with venture capital firm Shenzhen Capital. The other 14 participants were undisclosed.
Founded in 2015, CasiCloud provides cloud-based automated production software for the aerospace industry. Its lead product, Indics, helps aircraft…
