Huaqiu Electrics, an Internet platform for the electronics industry, recently completed a Series B+ round of financing of nearly 100 million yuan. This round was led by existing investor Cowin Capital and joined by several investment institutions.
The proceeds will mainly be used to enhance the production capacity and capabilities of supply chain services such as high-layer PCB manufacturing, electronic component BOM distribution orders, and PCBA processing.
Huaqiu Electrics has previously received angel round of financing from Huaqiang Holdings, Series A financing round from QF Capital, and Series B financing round from Cowin Capital, China Merchants Bank, Hongyan Investment, and Hunan High-Tech Venture Capital.
Huaqiu Electrics first evolved from elecfans.com, an electronic engineer community established in 2009. The company is an operator of an online platform intended to serve the electronics industry in China. The company provides one-stop services such as solution development, PCB manufacturing, component procurement, and SMT placement. It also offers online forums for discussion and knowledge sharing between customers.
70% of the decision-making power of electronic products comes from R&D engineers. Huaqiu Electrics also regards engineers as its core user group. elecfans.com currently has more than four million registered users, of which more than two million are engineers.