i-Kingtec (云圣智能), a high-tech startup providing a combination of drone, robot, cloud and IoT products, recently announced its Series C+ round of financing for an undisclosed amount.
This round, led by China Internet Investment Fund, a government-affiliated venture capital unit, came a little more than a month after the Series C round valued at “hundreds of millions of yuan” in December.
The previous round roped in investors including FG Venture, Z-Park Fund, Beijing Equity Investment and Development Management Co. Ltd. The latter two have deep links with the government.
Proceeds from the latest round will be used to boost i-Kingtec’s production capacity so as to achieve “leapfrogging growth” in “creating machines with machines,” the firm said in a press release, without elaborating.
i-Kingtec, which claims to be an expert in “ultra-low-altitude space-earth integrated IoT system,” provides an assortment of AI-powered solutions on the back of a suite of technologies.
They cover four-dimensional real-time mapping, industry-grade drone, autonomous airport, robotics, IoT cloud platform and multisensor.
“i-Kingtec will dedicate itself to enhancing production efficiency and improving life for the general public by employing four-dimensional capabilities,” said Dr. Chen Fangping, founder and CEO of Beijing-based i-Kingtec.
Over the years, i-Kingtec has built a product ecosystem that comprises high-performance drones meant for industrial use. It also has put an army of robots on the ground to patrol automated airports — also delivered by i-Kingtec.
Besides, the firm supplies its four-dimensional IT control platform suited to all application scenarios, media reported.
Combining innovations in digital twins, AI algorithms, IoT and an amalgam of edge and cloud computing, i-Kingtec has provided one-stop services to aid the digital transformation of many businesses.
In particular, its automatic inspection technology has realized what it said is “high-frequency, normalized and unmanned” autonomous inspection and control for clients primarily from industrial backgrounds.
To date, i-Kingtec’s integrated inspection system can be found in 20 provinces and autonomous regions around the country, with wide adoption in multiple scenarios ranging from power grid inspection to utility inspection, and from forest patrol to security check of industrial parks.
iKingtec mainly markets its solutions to clients from electricity, petroleum refining, emergency rescue, Smart City industries. The startup was anointed as a “Little Giant” listmaker in September 2022.
“Little Giant” is an honor bestowed by China’s Ministry of Industry and Information Technology to recognize a select group of high-tech enterprises with immense growth potential.