IoT solution provider Taolink-Tech pockets hundreds of millions of CNY in Series A
Domestic brand Taolink-Tech provides IoT chips for import-dominated industry
IoT solution provider Taolink-Tech (Chinese: 道生物联) raised hundreds of millions of CNY in a Series A funding round.
The investment was led by Gongshan Capital, followed by Xinyi Capital, Jiadao Private Capital and Rivercity Investment. Existing investor Rivercity Investment also participated in the Angel and Series Pre-A funding round.
Proceeds will be used for marketing and new product development. The company aims to meet the demand for high-speed, low-power, passive-broadcast communication.
Taolink-Tech provides solutions on low power WAN technologies and chips. The company’s vision is to build TurMass, a next-generation low-power wide area network system. The wireless IoT solution will promote connectivity between objects, according to the company’s website.
The IoT is a complex number-object system, combining sensor, communication, network, computing and control technologies. It is recognized as the third wave of information industry worth trillions of CNY after the era of computers and the Internet, said Lin Suikai, chief investment officer of Gongshan Capital.
Founded in 2019, Taolink-Tech focuses on narrowband wireless IoT technology. TurMass adopts advanced technologies, such as “mMIMO” large-scale antennas, polar code, and highly concurrent license-free random access. It boosts system capacity by a hundred times and improves speed and coverage by about five times.