China’s 3D digital application startup HeyGears has secured $60 million in its Series B1 round of financing from Abu Dhabi-based technology giant Group 42, according to a company filling.
The current round follows HeyGears’s 325 million yuan ($46 million) Series A round led by IDG in 2018.
Set up in 2015, Guangzhou-based HeyGears provides integrating hardware, software, material science, IoT and AI for consumer electronics, dentistry, healthcare, art, and creative industries.
Per its recent release, HeyGears has partnered with HP to create a 3D printed rehab appliance for stroke patients.
As part of the fresh funding and partnership, HeyGears plans to expand its presence to UAE and beyond.
In the statement, HeyGears co-founder and CEO Peiyan Gui said, “It [the funding] will fuel HeyGears’s research in advance hardware and cutting-edge software development, reduce the time-to-market of the products, develop more applications across a diverse range of vertical industries and improve human well-being with digital manufacturing.”
Group 42, an AI and cloud computing giant in the region, has its AI research centre, cloud computing platform, and builds solutions for clients in the government, healthcare, finance, aviation, leisure, smart cities, and oil and gas sectors.