Chinese smart handheld terminal producer iData bags over 100 million yuan in Series A financing

June 7, 2022 0 Comments

iData, a manufacturer of Internet of Things devices, has raised more than 100 million yuan in a series A funding round led by Sany Ventures, with participation from Baoteng Capital and Avary Holdings, Chinese tech news outlet 36Kr reported.

The financing will be mainly used to increase investment in research and development and fuel the company’s expansion into international markets.

Founded in 2010, iData focuses on automatic identification and data capture sector. Its handheld PCs, smart scanners and other smart terminal devices are widely used in retail, logistics, manufacturing, medical and public utilities.

In the domestic market, iData’s customers include Alibaba’s Hema Fresh, Meituan’s grocery delivery business Youxuan, home appliance manufacturer Midea, automaker BYD, and other well-known enterprises.

Wang Dongsheng, CEO of the company, said that overseas business has been on the rise since it began to enter the international market in 2017. This year, it should grow 50% and account for more than a quarter of the company’s total revenue, said the CEO.

Currently, the startup, which has hundreds of employees, runs offices in Thailand, Indonesia, Singapore, the U.S., Italy, and other countries to help it grow in international markets.

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