PassionIOT announced the completion of a 14 million dollar Series B funding round. The round was led by SAIF Partners, with participation from CITIC Capital and Ginkgo Valley Capital. Synergy Capital acted as the exclusive financial advisor. The funds will be used for technology development, global market expansion, supply chain enhancement, and organizational growth.

PassionIOT's Founder & CEO, Li You, stated: "Our success in attracting investment and trust from clients is not just due to our industry expansion over the past few years, but also our unwavering focus on solving real customer pain points. Moving forward, PassionIOT remains committed to developing the best products and maximizing value for our customers."

Co-founder & COO, Hua Xin, emphasized, "With the trust of our investors, clients, and partners, we will accelerate our domestic market share growth while expanding into international markets. Over the past two years, PassionIOT's revenue has tripled, and we are determined to achieve exponential growth over the next three years."

SAIF Partners' Managing Partner, Li Jia, remarked: "Smart manufacturing is a key investment area for SAIF. PassionIOT is a rare company in the industry that excels in both standardized line-side storage product development and software platform integration. With a core team from leading research institutes and industry giants, PassionIOT has built strong technological barriers in software, precision control, AIoT, edge computing, and vision inspection. As PassionIOT continues its rapid global expansion, we are confident it will become a global leader in smart manufacturing products and solutions."

CITIC Capital's Deputy General Manager, Li Hui, commented: "As an innovation-driven tech company, PassionIOT has achieved multi-domain, multi-scenario business coverage, leading market share in several segments with significant growth potential."

Ginkgo Valley Capital, the lead investor in PassionIOT's Series A round, continues to invest in this round. Ginkgo Valley's Partner, Chen Bin, noted: "PassionIOT's outstanding founding team and efficient delivery capabilities have deepened their technological barriers in industry segments. We are confident in PassionIOT's future and expect continuous innovation in technology and products to drive digital transformation in manufacturing."