Founded in November last year by the former CEO of ZTE, 5G application developer Hongshan IT has secured $14.5m in funding.
China-based 5G communications technology developer Hongshan Information Technology has collected RMB100m ($14.5m) in an angel round led by Legend Capital, the venture capital firm established by conglomerate Legend Holdings.
Private equity firm China Broadband Capital, venture capital firm Eastern Bell Capital and Broad Vision Funds also participated in the round.
Beijing Hongshan was founded in November 2018 by the former CEO of telecommunications equipment producer ZTE, Zhao Xianming, who had left the corporate four months earlier.
Officially known as Beijing…
