Target Information

Zongxing Technology has recently completed a Series B+ financing round amounting to several hundred million RMB. This company stands out as a stable growth representative among investment projects by Puyue China, in which it was an early participant. Zongxing Technology has developed its own low-power IoT technology, ZETA, which has set industry standards globally. The founder, a leading academic in the IoT sector, has clear goals and plans for the company, ensuring steady progress in both business operations and financing each year. The recent addition of several industrial investors as shareholders is expected to expedite Zongxing Technology's development.

The newly acquired funding will primarily be allocated towards the establishment of the ZETA chip ecosystem and the world's first fully connected IoT network for seamless tracking of goods, alongside deepening business applications in sectors such as industry, energy, and automotive supply chains.

Industry Overview in China

In recent years, the application of IoT technology has seen significant growth, driven by policies surrounding digital economy and carbon neutrality. A report from McKinsey predicts that by 2030, IoT could generate up to $12.6 trillion in economic value globally.