Mingdu Intelligent, a Hangzhou-based intelligent manufacturing service provider in the field of life sciences, announced that it has completed a RMB80 million (US$11.42 million) series A+ round led by Zheshang Venture Capital, with participation from China Merchants Venture and Topping Capital.
Proceeds of the new round will be mainly used for market expansion, product development and iteration, to accelerate the application of IoT, big data and AI technology to empower the transformation and upgrading of the pharmaceutical industry.
Founded in 2017, Mingdu Intelligent is an intelligent manufacturing services provider serving pharmaceutical enterprises. Based on intelligent logistics systems and industrial IoT platform, it provides full lifecycle management solutions to pharmaceutical companies covering research and development, production, warehousing, and logistics.
“Mingdu is optimistic about the huge development potential in the fields of life sciences and general healthcare,” said Wang Lijun, managing partner of Mingdu Intelligent. “Excellent companies in this industry have reached a consensus on the direction of digital R&D and digital factory construction. After this round of financing, we will continue to enhance product development, deepen the application of advanced technologies such as AI, big data, and the Internet to make in-depth and refined products, and empower enterprises to fully complete digital transformation."
Mingdu Intelligent previously received a series A round led by CASH Capital in July 2019.