Chinese CAD/CAM solutions provider ZWSOFT announced on Wednesday that it has raised RMB140 million (US$19.78 million) in a series B round of financing led by Chinese venture capital firm Addor Capital and government-backed China Internet Investment Fund.
Guangdong Finance Fund Management Co., Ltd., Yuexiu Industry Investment, Guangdong-based Technology Financial Group, as well as returning investors Fortune Venture Capital and China Aerospace Science & Industry Corporation, also participated in this round.
Founded in 1998, ZWSOFT is an engineering software provider focusing on the development and sales of CAD/CAM software. Its flagship products ZWCAD and ZW3D are widely used in industrial design fields such as architecture, engineering design, general machinery, equipment manufacturing, automobile and shipbuilding.
With five research and development centers in Guangzhou, Wuhan, Shanghai, Beijing and Florida, ZWSOFT has served over 900,000 clients from 90 countries and districts in the world, including the U.S., Latin America, Europe, Asia Pacific, Middle East, and Africa among others.
“ZWSOFT is an international software company with independent intellectual property rights for 2D CAD and high-end 3D CAD/CAM/CAE. It is exciting to have a self-contained kernel in China,” said Dai Huakun, partner of Addor Capital. “Industrial design software is the most basic part of industrial informationization, and it is also the highest demand of technology accumulation.”
Proceeds of this round will be used for the continuous development of R&D design industrial software and the construction of a global marketing system.
The company previously raised RMB80 million (US$11.29 million) in a series A round of financing from Fortune Venture Capital and China Aerospace Science & Industry Corporation in December 2018.