COSMOPlat, an industrial internet platform developed by Chinese global home appliance player Haier Group, said it has closed 200 million yuan ($29 million) in a Series A+ round of financing from National Manufacturing Transformation and Upgrading Fund, a 147.2 billion yuan ($21.02 billion) government-led fund launched in 2019 to develop the country’s manufacturing industry.
The latest round follows the completion of its 950 million yuan ($134 million) Series A round funding in March this year. The round was joined by state-owned China Structural Reform Fund Corporation Limited (CSRF), CMSC, Cowin Capital, and SAIF Partners, the company said in a statement.
Haier Group’s subsidiary Haier Smart Home is the largest shareholder in COSMOPlat with 77.14 per cent interest.
Haier Smart Home and Haier Electronics Group collectively invested in COSMOPlat in October 2019.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 28-29, 2020.