Zhuhai, December 2, 2024 — Possumic Technology Co., Ltd. (“Possumic”), a leading mmWave sensing chip company, today announced the successful completion of its Series A financing round, raising nearly RMB 100 million. Following a multi-million-yuan Angel round in 2022 from investors including Delta Capital, Hengqin Financial Investment Group (Gree Group), and Hi-Tech Financial Investment Group, Possumic has once again garnered support from prominent investment institutions such as Shenhe Industrial Investment and JONES CAPITAL in 2024, successfully completing the Series A financing. This milestone marks the company’s entry into a new phase of development in the field of mmWave intelligent sensors.

As a national high-tech enterprise, Possumic specializes in "sensing + connectivity" technologies and is committed to delivering industry-leading mmWave intelligent sensor chips and total solutions to facilitate the intelligent upgrade of AIoT products. Upholding the philosophy of “independent R&D and innovative breakthroughs,” the company treats technological innovation and intellectual property as core competitive advantages. It has gathered top talents in system hardware, antenna design, anti-interference design, and intelligent sensing algorithms to help customers achieve optimal product performance and maintain a competitive edge in the market.

Shenhe Industrial Investment, a subsidiary of Hengqin Shenhe Investment Co., Ltd. (“Shenhe Company”), is the only comprehensive state-owned enterprise under the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone. Focusing on the main theme of “promoting the appropriate diversification of Macao's economy,” it has built a “5+1” business development structure to advance integrated development in Hengqin and Macao to new heights. As one of its key business segments, Shenhe Industrial Investment adheres to the principle of “investment leading industry, service enhancing value,” selects high-quality enterprises globally, utilizes various financial instruments, and fully leverages the role of equity investment, financial services, and cross-border platforms to create a first-class industrial investment platform with “One Country, Two Systems” characteristics.

JONES CAPITAL is a company focused on investing in high-quality strategic emerging technology enterprises, headquartered in Shanghai and Xiamen. Currently, it manages 16 funds filed with the Asset Management Association of China, with a total scale of approximately RMB 2 billion. The company’s main investment areas include cutting-edge technology industries such as semiconductors, new energy, new materials, and high-end equipment. JONES CAPITAL has successfully invested in over 50 companies and is renowned for the outstanding performance of its fund investments.

With the support of the Series A financing, Possumic will accelerate product deployment and customer expansion, further consolidating its leading position in the mmWave intelligent sensor chip field. The company has obtained dozens of invention patent certificates and has mass-produced multiple mmWave intelligent sensor chips, which are widely used in AIoT fields such as smart homes, smart industry, smart wellness, intelligent automobiles, and intelligent security.

The team at Possumic stated: “We are thrilled with the success of this Series A financing. This is not only a recognition of our technological strength and market potential but also an affirmation of our team’s hard work. We will continue to increase R&D investment, drive product innovation to meet growing market demands, and provide global customers with higher-quality products and services.”