Honor Trends, a pioneer of AloT-based blood management service provider, marked another milestone in its development and aimed to bolster spending on AIoT solutions
Honor Trends (Chinese: 宏诚创新), a blood management specialist, recently announced its completion of Series B financing round valued at CNY 100 million (USD 15.7 million). This round was led by Zhongke Haichuang (Chinese: 中科海创) and raised the company’s total valuation to around CNY 900 million.
The funding will be used to advance the layout of RFID (radio frequency identification) chips and the product matrix.
What’s more, the proceeds will also be spent on propelling the business development of AloT-based digital solutions to further strengthen the implementation of marketing strategies.
Honor Trends had previously received funds from other investors such as Casstar (Chinese: 中科创星) and Youshan Capital (Chinese: 优山资本).
Tian Chuan, the founder of Honor Trends, said that the deep integration of new-generation information technology represented by loT (Internet of Things) and application senarios is becoming a powerful engine for economic transformation and the key entry point for pushing industrial computerization, digitalization and intelligentization.
Through this round of financing, Honor Trends will continue to increase the investment in the core chip technology and market layout. Honor Trends will play a demonstrative role as one of the key IoT enterprises to lead industry development with underlying hard technology, he added.
Honor Trends was established by Tian Chuan in 2014 as a service provider for blood management and information management using loT, big data and cloud technologies. Its core team members are from Tsinghua University and the Chinese Academy of Sciences.