December 21st, 2021, WeNext, China’s largest and most experienced digital manufacturing platform, today announced its US $55 million funding round. As the largest financing this year in China’s non-standard parts intelligent manufacturing field, the round was co-led by Cathay Capital and Temasek. The new funding will be put towards R&D projects and further upgrades to the WeNext digital platform as well as expanding market share and building a global footprint in fast-growing regions.
Since launching in 2015, WeNext has grown to become a pioneering one-stop shop for digital manufacturing and the largest 3D printing platform in the country. The company offers the broadest selection of smart manufacturing services including 3D printing, Computer Numerical Control (CNC) machining, injection molding and sheet metal production. To meet the production needs of non-standard parts, WeNext integrates AI-based software with physical manufacturing processes, creating a competitive advantage with both speed and cost effectiveness.
As manufacturing industry is evolving from high-volume and commoditized production to small batch nonstandard parts production mode, WeNext has served 200,000 customers with an annual output of over 30 million parts to date. This not only reflects huge market potential, and the tremendous value of the company in the evolution of manufacturing. With the goal of establishing new, upgraded manufacturing standards for the entire industry, the company continues to scale and optimize production lines. Its growth is supported by two mega trends disrupting traditional manufacturing: 1) shorter life cycles for newly launched products and 2) the increasing number of SKUs on the market.
Xueyuan LU, CEO of WeNext said: “China’s 10-trillion-yuan manufacturing sector relies on four core processes: 3D printing, CNC machining, injection molding, and metal sheeting. These are widely used to produce a range of essential products including consumer electronics, medical equipment, and unique models for the automotive industry. However, a lack of proper standardization has led to low production efficiency for SMBs, representing the bulk of the market. Digitalization in manufacturing can bring more flexibility throughout the entire process and fundamentally improve efficiency, particularly for non-standard parts. Unlike high-volume and commoditized manufacturing, we’re committed to serving the non-standard and diverse needs of our clients as we grow further and to delivering ever better products and services.”
Mingpo CAI, Founder, Chairman and CEO of Cathay Capital: “As the largest and most active manufacturing hub in the world, it’s vital for China’s industrial sectors to embrace R&D and innovate as technology continues to advance. WeNext is taking on this challenge by upending traditional methods with its ‘Digital+Manufacturing’ approach and infrastructure that can activate future innovation more efficiently. From the very start of their entrepreneurial journey, Xueyuan and his team have been transforming the industry with a wide variety of unique services offring flexibility, shorter lead time and cost reduction to different kind of customers. At Cathay, and our industrial tech team, we remain confident in WeNext’s potential and are proud to see our global ecosystem foster its growth – which is sure to benefit businesses in China and around the world.”
Leading cloud-based digital manufacturing service provider that offers end-to-end solutions from rapid prototyping to mass production. WeNext provides professional services such as 3D printing, CNC Machining, injection molding and vacuum casting for various industries. Founded in 2014, WeNext has served more than 200,000 users with an annual output of more than 30 million pieces. With our large and efficient digital production facilities, we could produce high quality part; reduce operation cost and production time, as short as 1 day.
About Cathay Capital Group
Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages over $4.5B in assets, has completed over 220 buyouts, growth and venture capital investments with the global reach and local expertise from offices in Paris, New York, Shanghai, Munich, San Francisco, Beijing, Singapore, Shenzhen and Tel Aviv.
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