Tianjin Deepinfar Ocean Technology, operator of underwater AI specialist Sublue, has scooped up 120 million yuan ($17.1 million) in B+ series funding for continued product development and market expansion.
The smart equipment firm will use the money to fast track its progress towards an IPO on Shanghai’s STAR Board, according to a Sina report on July 10.
Founded in China in 2013, the company makes cable-controlled underwater robots (ROV), autonomous underwater vehicles (AUV), underwater gliders (AUG), COPEX automatic profile buoys and related business solutions. Such devices are used in hydropower and water conservancy, water rescue, aquaculture, offshore oil production, underwater engineering and other marine activities.
Minsheng Securities joined repeat investors SDIC Unity Capital, TEDA Venture Capital, and V Star Capital in the latest funding round.
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