In March 2021，Shenzhen Qianhai Wanrong Hongtu Investment Fund (Wanrong Hongtu) and Shenzhen Capital Group Company (SCGC) let the $100M Series B for Shanghai Longcheer Technology, with following investors including Forebright Capital, Huaxu Investment, Jintaifu Capital Management, Future X Capital, and Accurate Capital. Its existing investors include Xiaomi and Shunwei Capital. After this round, Longcheer will be pushing forward its position in the smart device market for AIoT, etc., enhancing its technological expertise in emerging technologies such as 5G, and further solidifying its competitive advantage in the market.
Founded in 2002, Longcheer Technology is one of the top 3 global Original Design Manufacturers (ODM). Leveraging its superior design and technology, Longcheer provided design, R&D, manufacturing services and solutions to consumer mobile devices, including smartphones, tablets, wearable devices, smart homes, audio, VR/AR, and electronic components.
image from LONGCHEER
Longcheer's founder and chairman of the board, Dr. Junhong Du said: "The 5G era will infinitely close the distance from human to human, human to object, and object to object. With the surge of technologies such as AI, big data, and cloud computing, smart devices' market potential is ever-growing. Many ideas that used to be unimaginable are coming true, such as smart homes, autonomous vehicles, smart manufacturing, and smart city. They are all becoming a reality. This presented new market opportunities for the ODM industry and brought up higher standards. Longcheer is the world leader in system integration and has been an early entrant to the wearable devices, smart homes, AR/VR, and AIoT markets. In the future, Longcheer will increase its R&D input on smart devices and evolve from ODM to a platform enterprise to provide better products and services for clients. "
image from LONGCHEER
At Wanrong Hongtu, we believe that Longcheer, as the ODM pioneer and frontrunner in China, has always stayed in the top tier with its superior R&D and quality control capabilities. Its core clients covered top Chinese brands Xiaomi, OPPO, Huawei, Lenovo, and global giants such as Facebook, Amazon, Moto, and LG. Stimulated by 5G, the market for smartphones and wearable devices will have an explosive growth opportunity. We believe that Longcheer will continue to expand its market share and achieve even faster growth.
As the lead investor, Wanrong Hongtu firmly believes in Longcheer's growth potential and will support Longcheer in building an innovative platform upon mobile devices and IoT and further boost the industry's growth.
Shenzhen Qianhai Wanrong Hongtu Investment Fund, LP (i.e., Wanrong Hongtu), is a parallel fund with West Fountain Global Fund LP (West Fountain), established and managed by Shenzhen Capital Group with ¥4B capital, focusing on cross-border deep tech investment and M&A.
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