Auto parts supplier Wanxiang has invested $10m in incubator InnoSpring, which helps startups expand from the US into China and vice versa.
China-based incubator InnoSpring received a $10m investment from automotive parts manufacturer Wanxiang Group yesterday that will help it increase its portfolio with industrialisation and financial services technology startups.
Founded in 2012, InnoSpring operates an incubator aimed at mobile-first startups developing consumer, financial and healthcare technologies, as well as enterprise software.
InnoSpring, which is headquartered in China but oversees a Silicon Valley-based operation, particularly focuses on helping startups expand from the US into China and vice versa.
The incubator was set…
