Runchengda, a company providing Internet of Things solution for electricity industry, has completed its Series A financing round, raising tens of millions of yuan. The lead investor for this round was China Incubation Capital under the China Science and Technology Development Institute. Yunyue Capital served as the sole financial advisor.
The proceeds will be used for R&D and market expansion of IoT solutions and products for electricity management.
Runchengda is a provider of turnkey electricity management IoT solution for various industries, integrating R&D, production, sales, operation and maintenance. Its products and solutions include new energy charging facilities, electricity monitoring systems, IoT solution, and cloud service platforms and more, providing reliable and advanced energy control equipment for major industrial clients.
On the team side, founder and CEO Wang Hao graduated from the School of Electrical Engineering of Hunan University. When he first graduated from the university, Wang Hao was engaged in technical research and development, and later entered Siemens to work in sales department. There, Wang repeatedly won the national sales champion of Siemens and later served as sales director.