Legend leads $63m round for China's Hoteam Software

Harvest Capital, Tsinghua Holdings Capital, Shanghai Lingang Private Equity, Huayi Ventures, and Qingsong Fund also participated.

It follows a CNY 180m Series B round from F&G Ventures, Forebright Capital Management, and FutureX Capital in July last year, and a CNY 100 million round in January last year led by Silicon Harbour Capital. Cybernaut Capital invested an undisclosed amount in 2016, and Lucion Venture Capital backed the company in 2010.

Founded in 1993 and headquartered in Shandong province, Hoteam offers computer-aided design (CAD), product lifecycle management (PLM) for digital factories in industries such as aerospace, railway, chemical engineering, automobiles, industrial robots, 3D printing, and digital medical treatment. It has thousands of enterprise customers including TCL, Sinopec, and Guangzhou Automobile Group.

The Series C proceeds will go toward R&D for high-end 3D CAD products and global marketing. The company also aims to launch the first domestic cloud-based CAD product, develop a new generation of high-performance intelligent PLM technology for manufacturing, and improve its 3D media player software SView.

“[Domestic high-end industrial software development] takes decades of accumulation and iteration. So far, it has been almost monopolised by foreign manufacturers, and only a few domestic companies such as Hoteam that have focused on R&D for a long time are expected to break through.” Xinyu Ge, a managing director at Legend, said.

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• Topics
• Greater China
• Expansion
• Technology
• Industrials
• China
• enterprise software
• Legend Capital