Nio Capital participated in the 3D printing technology producer’s latest round as it looks to accelerate technology innovation.
WeNext Technology, a China-based 3D printing technology provider, has received $55m in funding from investors including CAS Investment Management, an investment subsidiary of the Chinese Academy of Sciences, DealStreetAsia reported yesterday.
The round was co-led by Singaporean state-owned investor Temasek, Cathay Capital and Straight Capital and also featured Nio Capital, the venture capital firm formed by automotive manufacturer Nio.
Founded in 2014, WeNext provides manufacturing services like 3D printing, rapid tooling, vacuum casting and injection moulding.
The company has served some 200,000 clients to date and will use the proceeds from the round to continue driving its technology innovation.
CAS Investment Management and Nio Capital and had previously co-led a series A round for WeNext sized at over $15.5m in January this year.
CAS Investment Management had already joined aerospace manufacturer Aviation Industry Corporation of China’s Avic United Innovation Technology subsidiary and property developer Parkland Group’s Daxie Pengchuang vehicle to provide an undisclosed amount for WeNext the previous month.
– A version of this article first appeared on our sister site, Global Corporate Venturing. Image courtesy of WeNext Technology.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
