China manufacturing software player UJoin raises $14m
China-based manufacturing services business UJoin-Tech has raised a Series A of CNY 100m (USD 14m) led by Vision Plus Capital and Jinma Investment, a private equity fund launched by Ant Group and the Zhejiang provincial government.
Phoenix Tree Capital also participated in the round. The proceeds will go towards core technology improvement, product iteration, and R&D, according to a statement.
Founded in 2021, Zhejiang-based UJoin focuses on the smart monitoring of machinery, especially bladed equipment. It claims to leverage artificial intelligence and big data to enable smart manufacturing across various industries. Foxconn is one of its clients.
The condition of bladed equipment is a key consideration in manufacturing. Broken, chipped or worn blades can result in products failing to meet required standards.
Blades are typically monitored manually using specific instruments. UJoin's software-based solution - it assesses spindle vibration and power in real-time - eliminates the physical instrument and saves time and ensures process efficiency.
Leap Capital served as the exclusive financial advisor for the Series A round.
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