Industrial IoT leader Blutech Intelligent Co., Ltd. announces the completion of its Pre-A round of financing, led by strategic investors Foryou Electronics and Jinfeng Electronics, with participation from the original Singaporean investor, Lijie Ventures. The financing was issued at a premium price of NT$40 per share. The funds raised will primarily be used for market development and to rapidly accumulate customer base and application results.
The funds from this round will be used to accelerate the expansion in the Taiwan market and increase market share. Foryou Electronics (6189) and Jinfeng Electronics (6577), both strategic investors, have been focusing on supply chain sustainability, smart factory carbon reduction, and net-zero carbon emissions in ESG issues since about five years ago, with ODM clients mainly from Europe and the U.S. Their services span industries such as healthcare, fitness equipment, shipping, and smart retail. By combining Foryou Group’s expertise in electronic component supply management, hardware development, and manufacturing capabilities, the partnership will enhance Blutech’s product competitiveness and expand its market reach to Foryou’s clients in Europe and the U.S.
Blutech’s Business Director, Guo Han, excitedly mentioned: “For a long time, traditional manufacturing industries have been overlooked; they are more geographically remote and, compared to electronics or banking industries, have fewer IT resources. Without a one-stop solution for customers, system integration alone can cause project failure. Blutech has long been invested in developing a complete solution that is exactly what our customers urgently need.” He also added, “Data collection in the industrial sector is not a simple task. Manufacturing industries are simultaneously facing pressure from governments, the European Union, and customers. In this context, Blutech’s remote wireless solution is the best choice for the industry. The installation is fast, and the price is more reasonable. Our current customer satisfaction is very high.”
Blutech’s Chairman, Lin Zaili, stated, “Under the pressure of international carbon reduction and Taiwan’s energy transition, we have felt the anxiety of our customers. There is no much time left for us to help manufacturing clients quickly establish carbon auditing, energy performance management reporting, and smart energy management systems. We must accelerate to address our customers’ concerns.”
Since Foryou Electronics first engaged with Blutech, both parties have found alignment in market perspectives and ESG philosophies, deciding to collaborate. Currently, a new generation of energy monitoring solutions is being developed. Foryou, in addition to developing a wired modular smart meter, is working with Blutech’s exclusive NeVerLoSs LoRa wireless technology to integrate wireless and wired solutions to provide more complete and value-added solutions. Moreover, this investment will further strengthen both companies’ commitment to ESG values and create greater commercial value for customers.
Since being selected for the second batch of the Wistron AppWorks Accelerator in July 2022, Blutech has launched its WSDMS wireless instrument management system, iEMS smart power data system, and exclusive NeVerLoSs LoRa wireless technology. To date, dozens of manufacturing companies have gradually implemented these systems. In the same year, Blutech won the Green Startup Technology Competition for its DayMoonlight team and has continued to achieve market success. The current valuation reflects the continued market interest and further validates the strength of the team. With Foryou Electronics’ support, Blutech will be better positioned for business expansion, product development, and supply chain management.
