Smawave Tech Obtained 100 million of Startup Financing led by Oriza Seed and Volcanics

Recently, Shanghai Smawave Technology Co., Ltd. announced its success of obtaining 100 million RMB of startup financing led by Oriza Seed and Volcanics venture and co-invested by Ecovacs and Nanjing Jiangbei Sci-Tech Investment Co., Ltd. The funds will boost Smawave's R&D investment and market expansion.

Established in September 2019, Smawave Technology focuses on providing industrial 5G intelligent products and an overall 5G-based solution for industries or industrial digitization and helping the industry to achieve digital transformation. Since the very beginning, the company has seen rapid development as a winner of Many honorary titles, such as the "National High-tech Enterprise", "Top 50 Entrepreneurs with the Most Potential Investment in Shanghai", and "Makers Innovation and Entrepreneurship of Chinese SMEs" in 2020.  

As the only global strategic partner of Nokia Industrial Internet and the partner of ZTE and Alibaba Damo Academy, Smawave has established industrial 5G products with the world's most comprehensive spectrum equipment. Besides, it has achieved complete independence in research and development with the full range 5G and AI development capabilities while successfully implementing industrial 5G networks in many industries. In this way, the company is committed to being a leader in intelligent industrial devices, empowering high-end AI products and helping customers achieve high efficiency and superb experience.

After the startup financing A, Smawave Technology will keep deepening the industrial market and increasing the investment in deep learning and machine vision technology, taking advantage of the 5G technology. By overcoming the challenges for traditional industries with 5G+AI technology, Smawave will open up the industry chain and benefit more industries with technological development.

As Mr Le Jinxin, a partner of Oriza Seed, has said, "Oriza Seed has centered around industrial digitization and digital industrialization. At the precise window period of constructing digital economy infrastructure, the investment in the underlying technology and core devices in computing, sensor, transmission, presentation and other links will present a significant opportunity for the coming explosion of the digital economy. Therefore, we are pleased to join hands with Smawave, a mature team with a thorough understanding of the core technology and the demands in the scene, to embrace the digital revolution and deliver quality links and services from China to oversea customers! ".

As a founding partner of Oriza Seed, Mr Zhang Suyang said, "5G will cover at least 100 billion addresses in the future, most of which are homes to various devices connected to generate data through 5G. After being processed by big data and AI, there will be feedback to redefine the functions and applications of the devices. Therefore, for the foreseeable future, it will be the world of IoT. As the pioneer of 5G IoT, Smawave Technology appears to have an optimistic future, which will help enterprises achieve global digitization and promote the development of a higher level.