Weifu Intelligent Sensor completed a new round of financing, with investors including China Merchants Venture Capital, etc.

Recently, Weifu Intelligent Sense announced the completion of a new round of financing, and the amount of financing was not disclosed. This round of financing attracted the participation of many institutions such as China Merchants Venture Capital, Boyuan Capital, Weifu Hi-Tech and Xinshang Investment. Weifu Intelligent Sense focuses on the research and development of intelligent sensing core modules. It is a subsidiary of Wuxi Weifu High-Tech Group Co., Ltd. and inherits Weifu Hi-Tech's millimeter-wave radar technology and production experience. Since the launch of millimeter-wave radar technology research and development and business incubation in early 2018, Weifu Hi-Tech has entered the commercialization acceleration stage since 2022. The company's product line includes 3D radar and 4D imaging radar, which have been applied in small batches in many fields. According to Weifu Hi-Tech's announcement, the equity structure of Weifu Intelligent Sense has been announced. Weifu Hi-Tech invested 215 million yuan in assets and currency, holding 61.43% of the shares and becoming the main shareholder. Other investors include Boyuan Private Equity, J Fund and Xinqin Investment, holding 14.29%, 14.29% and 2.86% of the shares respectively. In addition, Partnership A also participated in the investment and holds 7.13% of the shares. As a holding subsidiary of Weifu Hi-Tech, Weifu Intelligent Sensor will be included in the company's consolidated financial statements.