Tsingyun Intelligence, an industrial intelligence service provider based in China, announced on Monday that it had completed round B and round B+ financing worth over 100 million yuan ($15.06 million). The round B financing was led by GL Ventures, followed by Baidu, CDH Investments and Zehra Fund, and Sinopec Capital led the round B+ financing with PhoenixTree Capital serving as financial consultant.

Established in March 2019, Tsingyun Intelligence focuses on the R&D of intelligent industrial technology such as energy and chemical products, new energy and new materials. This round of financing will be used on the R&D of digital twin technology, industrial intelligent unmanned technology and new process package technology.

The core founder of Tsingyun Intelligence is a professor in the Department of Chemical Engineering and Automation of Tsinghua University. The founding team members hail from Tsinghua University, Sichuan University, China University of Petroleum and other top foreign universities. The company has also attracted and gathered many notable experts from the fields of energy, chemical industry, materials, automation and computers.

For quite a while now, the process industry, especially the energy and chemical industry, has had many pain points such as complex processes, hidden safety risks which have sometimes led to serious accident consequences, quality control issues, heavy dependence on workers’ experience, and low industrial intelligence.

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Tsingyun Intelligence closely combines industry knowledge and expert experience with industrial big data, machine learning, artificial intelligence and other technologies. The company aims to integrate models ranging from data-driven models to process mechanisms and actual production business models. In the new energy industry, the company’s new generation of automatic control equipment has reduced hundreds of front-line operators for enterprises and increased the qualified product rate by 20%.