Xiamen Current Technology Co., Ltd., running an online collaborative CAD platform, announced on Monday that it has completed an A Round of financing garnering nearly 100 million yuan ($15.67 million). This round of financing was led by GL Ventures, jointly invested by GGV Capital, with Canglan Capital acting as the exclusive financial advisor. It is reported that this round of financing will be used for further polishing and the intelligent development of CAD products.
Current Technology was established in 2014. The founding team consists of former Autodesk senior engineers and world-renowned experts and professors of collaborative design. It independently developed the geometric engine of cloud native CAD intelligent design software.
The collaboration of CurrentCAD software, one of the firm’s products, has greatly improved the office efficiency of users. One of its modules can realize project process management, and all data, documents and communication information can be traced on the platform. The platform allows all members of the same project team to work together, helping to complete the project from research and development to audit in the shortest time.
AI is another major advantage of Current. As an intelligent software based on cloud computing, CurrentCAD realizes iterative upgrades of algorithm through AI learning from the accumulated data.
According to the company, CurrentCAD mainly serves enterprises above medium scale at the current stage, and it will introduce a new service model for small- and medium-sized enterprises in the next stage. At present, there are more than 1,000 enterprise customers in China using CurrentCAD design platform. For the commercialization path, Current’s quality has been verified in many large enterprises and design institutions such as Country Garden, Loda Bath and Zhongye Changtian International.