Vision System Developer Lanxin Technology Finishes B Round of Financing Worth Over 100 Million Yuan

lanxin
(Source: Lanxin Technology)

On Tuesday, Hangzhou Lanxin Technology announced its completion of Round B financing, amounting to over 100 million yuan ($15,695 million). CEO Gao Yong said that the funding will be invested in developing 3C electronics, new energy, packaging, and other industries. 

The company will accelerate its commercialization of key technology LX-MRDVS, and enhance enterprise cooperation to jointly explore the application of vision technology in new industries and fields.

Lanxin Technology provides complete visual sensor solutions for mobile robots and intelligent logistics solutions for manufacturing industries. LX-MRDVS, the company’s self developed mobile robot vision system, consists of deep vision sensors (covering medium to long distance and short distance) and AI algorithm.

The main members of Lanxin Technology come from top Chinese universities such as Chinese Academy of Sciences, Fudan University and Zhejiang University and well-known domestic robot enterprises. The company mainly focusing on commercial transformation through robot logistics solutions in the industry, and its customers include Huawei, ZTE, Midea, Toshiba, Foxconn and other leading customers in photovoltaic and lithium battery industries.

People from the management team of Desay Battery, which participated in this round of investment, said: “We are optimistic about the development of intelligent logistics and the application of Lanxin Technology’s 3D visual perception technology in automated guided vehicles and autonomous robots. Desay Battery has rich experience in the field of intelligent manufacturing. We look forward to not only offering financial investment, and expect more extensive cooperation with Lanxin technology in industrial development.”

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Lanxin Technology has previously completed several rounds of financing. In 2017, the company received a seed round financing. In 2018, it received 10 million yuan in the angel round financing from Fenghou Capital and an other venture capital. In 2019, it received tens of millions of yuan in a Pre-A round of financing from Envision Capital. In 2020, Lanxin Technology won tens of millions of yuan in A round of financing from BlueRun Ventures and Envision Capital.