Wenext has completed a Series A funding round of more than 100 million RMB, which was co-led by Nio Capital and CAS Investment, and which joined by Oriza Holdings, with Index Capital as the exclusive financial advisor.
Wenext will leverage the funding to advance company’s R&D, to expand operations and its business reach, moreover, to provide better quality, competitive pricing, and faster delivery of products to customers around the world.
Wenext is a leading cloud manufacturing service platform providing one-stop services for small and medium businesses around the world, including hardware developers, research institutions, and makers. We serve our customers from prototyping to mass production. Our services include: Industrial Design, 3D Printing, CNC Machining, Molding, Plastic Tooling, and Sheet Metal Fabrication.
Wenext is always customer-oriented, in facing various demands, we customize production strategies accordingly. Wenext has served customers from diverse industries, including electronic appliances, medical parts, shoe molding, educational applications, cultural creativity, architecture, automotive, aerospace, and other industry sectors. Wenext has cumulatively served more than 200,000 innovative hardware developers worldwide, with the number of models produced exceeding 15 million pieces. Standing at the forefront of the industry, we are widely recognized.
Digitization is the way we build our service platform. Wenext has reduced information asymmetry and inefficient supply chain barriers in the conventional industry with our digital manufacturing management system. Wenext's intelligent management system rebuild the entire operational process from placing order to product delivery. Our intelligent management system includes Automated Quoting System, Defect Analysis System, Remote Control System and Real-time Production Tracking System which could help with the following:
1. Save more than 40% of personnel compares to conventional manufacturing centers.
2. Increase the daily order processing volume to 6,000 orders.
3. Improve equipment utilization.
4. Promote the on-time delivery rate up to 98%
Our online AI quoting system enables our customers to receive parts quotation in seconds which is as easy as online shopping.
Wenext has set up wholly-owned or joint venture companies in the Pearl River Delta and Yangtze River Delta regions as production bases, with metal and non-metal parts production lines. This system aims to provide consistent and stable product delivery to customers worldwide and able to meet the requirements of a wide range of industries, including automotive, aerospace, consumer electronics, medical, and home appliance applications.
“Nio Capital remains bullish on China’s smart manufacturing, as the application of industrial internet of things (IIoT) and artificial intelligence(AI) technologies accelerates the industrial upgrading in China,” said Zhu Yan, Managing Partner of Nio Capital. Along with the advancement of production capacity and efficiency, Wenext is able to provide convenient, timely, and cost-effective production solutions that meet customer requirements.
“CAS Investment has an in-depth and comprehensive knowledge in the field of smart manufacturing,” said Sun Hua, Chairman of CAS Investment. “Wenext has a clear business model. Wenext is able to transform the conventional production processes with the use of internet and algorithms technology. The transformation greatly increases production capacity and reduces costs which makes Wenext the industry leader. Wenext has put a great deal of effort into smart manufacturing and is equipped with comprehensive capabilities and commercialization capability. We believe that under the leadership of the founding team, Wenext will become a leader in the Internet smart manufacturing industry.
Zeng Zhijie, Founding Partner of Oriza Holdings, also express his recognition and expectations of Wenext, “COVID-19 has intensified the uncertainty of the R&D and production process of enterprises; meanwhile diverse customers need have accelerated innovation speed in micro-, small and medium-sized enterprises. Catalyzed by the bilateral changes in supply and demand, the supply of high-quality and efficient flexible productivity is accelerating to become a rigid market demand. The deeply systematic and highly integrated intelligent manufacturing factory built by Wenext is a one-stop solution to will solve the market demand from prototyping to small batch production, and achieves industry-leading delivery efficiency and quality. We believe that Wenext, a young brand full of passion, will explore an excellent development path for the future of China's smart manufacturing.”
Duan Ruochang, Head of Industrial Internet at Index Capital, believes that supply chain is an important component of the industrial Internet, and the supply-side economy comes from industry consolidators to drive up the concentration of the industrial distribution and manufacturing chain to achieve large-scale profit aggregation. As an industry leader, Wenext focuses on the demand of non-standard processing parts, and is deeply involved in the service and manufacturing side, which is rare in the industry. Index Capital is very optimistic about Wenext’s strategic vision, strong execution, and the ultimate pursuit of product and service details, and expects it to continue to plow deeper and create continuous quality and service value for customers.
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