Sigma Squares Tech Raises $14M in Pre-A Funding Round

According to PEdaily.cn, Sigma Squares Tech, a Chinese automated manufacturing system developer headquartered in Beijing, has raised tens of millions of yuan (US$14 million) in Pre-A funding round, led by BioTrack Capital with participation from Future Capital. Proceeds of this round of financing will be mainly used for product development and market expansion.

Founded in early 2018, Sigma Squares Tech provides intelligent vision devices, machine vision and industrial data platform, as well as computer vision solutions for manufacturing enterprises. In February 2019, Sigma Squares Tech completed an additional angel round financing of 10 million yuan co-invested by Future Capital and Aplus Capital. 

Sigma Squares Tech focuses on the defect detection of products with irregular form. The application of its products covers the field of medicine and medical devices, garment industry, and 3C industry, such as the defect detection of transparent materials (contact lenses, optical lenses, light-conducting materials, glass products, etc.), and defect-recognition on complex backgrounds (knitted fabrics, battery packaging materials, etc.).

Sigma Squares Tech has developed a platform for enterprises to provide cloud vision services. This system can send images and data from several visual systems from different modules or production lines to the cloud server, and get the results through algorithms. Through the platform, clients can make a complete intelligent manufacturing detection environment. Sigma Squares Tech has cooperated with leading contact lens and optical lens manufacturing enterprises, head garment enterprises around the world, and other famous companies such as Huawei, Lenovo, Koren Pharmaceutical, and Yangtze River Pharmaceutical, etc.

Founded in 2017, BioTrack Capital is a dedicated healthcare venture capital firm focused on building and incubating innovative life science companies in China. The company focuses on innovative biotech companies, innovative MedTech companies, and innovative business models in healthcare which are led by outstanding entrepreneurs.

Founded in 2014, Future Capital is one of the venture capital firms focused on China's technology companies in the early stage. It manages funds of 2.5 billion yuan. Future Capital pays attention to the fields of artificial intelligence and big data, enterprise services, intelligent travel, intelligent logistics, medical informatization, and smart home.