The Chihiro location was co-founded by China Ordnance Industry Group and Alibaba.
It was learned that Chihiro Location Network Co., Ltd. (hereinafter referred to as “Chihiro Location”) announced today that it has completed the RMB 1 billion Series A financing, with a post-investment valuation of over RMB 13 billion.
This round of financing is provided by Shanghai International Group Asset Management Co., Ltd. (hereinafter referred to as “International Asset Management”), ICBC Financial Assets Investment Co., Ltd. (hereinafter referred to as “ICBC Investment”), and China State-owned Capital Venture Capital Fund (hereinafter referred to as “Guo Feng Investment Fund” led the investment, Shanghai Guohe Investment, Yonghui Fund, Jinpu Pengyuan Fund, and the capital and investment. The financing is mainly used to strengthen the application of infrastructure construction and core technology research and enrichment of space-time intelligence in Chihiro location.
In addition to huge financing, the company also announced that has been upgraded from a “precise location service platform” to a “space-time smart infrastructure.” For this strategic upgrade,Chihiro search CEO Chen Jinpei said:”Time and space network, computing network, The Internet will form the infrastructure of the future era of intelligence. From compasses, compasses, to GPS, Beidou and other four global satellite navigation systems, every time humans explore the time and space capabilities, they have a huge impact on the economy and society. Looking forward to the future, hundreds of millions of machines need time and space intelligence, so that they have similar space-time sensing processing capabilities and make independent decisions.
It has been reported that Chihiro was established in August 2015< Strong>, jointly created by China Ordnance Industry Group and Alibaba, with a registered capital of 2 billion yuan, each holding 50%. The Chihiro location is based on the basic positioning data of the Beidou satellite system (compatible with GPS, GLONASS, Galileo), and utilizes more than 2,500 Beidou ground-based augmentation stations and self-developed intelligent algorithms across the country to perform big data operations through Internet technology. Users provide centimeter-level positioning, millimeter-level sensing, and nanosecond-level precision time-space services to help machines calculate time and space intelligence.
In terms of core technology, Chihiro said that their accelerated positioning service product FindNow currently covers 220 countries and regions, filling the gap in China’s satellite navigation acceleration positioning technology. The Chihiro location technicians also launched the “Ark Plan” to help “restore” the broadcast ephemeris with the European Galileo satellite navigation system for nearly a week.
The company claims that they currently have more than 390 million users worldwide, including smart cities, industrial upgrades, smart driving, mass consumption, and public safety. Since 2017, the company’s revenue has grown at a compound annual growth rate of more than 300%.
The Shanghai International Group, the leading investor in this round of financing, is a state-owned, wholly-owned enterprise in Shanghai, serving the country and Shanghai’s major strategy. Its international asset management is a wholly-owned subsidiary of Shanghai International Group with a registered capital of RMB 3.5 billion. Guofeng Investment is a state-level industrial investment fund approved by the State-owned Assets Supervision and Administration Commission of the State Council. It is the largest national-level risk in China. Investment fund with a total scale of 200 billion yuan.