The global positioning technology producer, which was co-founded by Alibaba and Norinco, secured the cash at a $1.84bn valuation.
Qianxun Spatial Intelligence, a China-based positioning technology provider co-founded by e-commerce group Alibaba, has raised RMB1bn ($141m) in series A funding, China Money Network reported today.
Government-owned entities Shanghai International Group, Industrial and Commercial Bank of China and China State-Owned Capital Venture Investment Fund led the round, the former two through SIG Asset Management and ICBC Financial Asset Investment respectively.
Shanghai Guohe Capital also contributed to the round, which valued Qianxun at approximately $1.84bn according to China Money Network.
Qianxun…
