On August 8, 2021, PassionIOT, a provider of warehousing equipment and solutions for the intelligent manufacturing sector, announced the completion of its 1.4 million dollar Pre-A round of funding, led by AA Investment. The funding will be primarily used for team expansion, new product development, and increasing production capacity.

PassionIOT’s Founder and Chairman, Li You, stated, “Unlike many companies in the industry that focus solely on the development and production of automated warehousing systems, PassionIOT takes a top-down approach to automation, digitization, and intelligent transformation, offering full lifecycle management solutions for SMT production materials. This helps companies achieve a seamless integration of intelligent production and warehousing logistics.”

Hua Xin, Co-Founder and General Manager of PassionIOT, added, “PassionIOT is already a leading player in the niche of intelligent warehousing equipment and solutions within the smart manufacturing sector. Our products and services encompass SMD material line-side storage equipment, smart logistics devices  and industrial software (WMS, WCS, WES, TMS),. In the first half of 2021, our sales have grown fivefold compared to last year, with an expected annual revenue of 16.8 million dollars.”

AA Investment specializes in TMT projects driven by technological innovation, with a focus on enterprise services in areas such as SaaS, big data, cloud computing, smart robotics, and software. Known for being "Always Ahead," AA Investment has been a leader in the enterprise services investment space since 2013, with successful investments in industry leaders like Flexiv, Yunzhangfang, F-one, UDesk, OneAPM, Treasury Cube, Tongchuang Yongyi, and Yizhun Medical AI.