Blog

Aug 18, 2023

Industrial Internet Platform "mymooo" Closes Series C Funding Round

EqualOcean has been informed that mymooo (Chinese: 蚂蚁工场), a flexible and agile manufacturing platform for industrial parts and components, has announced the completion of its Series C financing.

EqualOcean has been informed that mymooo (Chinese: 蚂蚁工场), a flexible and agile manufacturing platform for industrial parts and components, has announced the completion of its Series C financing.

mymooo is an innovative industrial Internet platform that integrates Internet+, flexible and agile smart manufacturing, and supply chain services. The platform aims to build a modern manufacturing service ecosystem of online trading, smart manufacturing and digital services for massive industrial parts for the automation equipment industry.

According to reports, since its launch in June 2017, mymooo has plunged into the field of industrial parts and components, and is committed to helping automation equipment enterprises complete the design, selection, procurement, and supply of digital solutions, and to accelerate the digital development of the manufacturing industry.

On the parts supply chain platform demonstration center built by mymooo, end-users only need to upload 3D design drawing data, the platform can realize real-time quotations, rapid automatic process generation, automatic coding tap CNC machining, and the whole process is completed within 1 hour. During the whole process, only a few people are needed to be responsible for the daily operation of the equipment, and the whole production line achieves a high degree of intelligence, automation and digitization, thus improving the efficiency of procurement and transaction.

At present, mymooo has integrated and fused nearly 10 million SKUs, supplying more than 100 categories and about 2,000 series of products. It mainly serves more than 20,000 enterprise customers in many industries such as aerospace, military, mobile phone, new energy, robotics, automotive, semiconductor, medical and so on.

After continuous iteration and improvement, mymooo's two core platforms can help enterprise customers reduce procurement costs by 10% and labor costs by more than 50%. Manufacturing enterprises can rapidly expand their service scale by cooperating with mymooo, and become professional manufacturers in the mymooo ecosystem by leveraging their category advantages and striving for excellence.

In the future, mymooo will continue to strengthen the technical research and development of artificial intelligence, big data and intelligent cloud computing, and cooperate with partners upstream and downstream in the industry chain to promote industrial upgrading, continuous innovation and breakthroughs. At the same time, in-depth research and development of AI pricing tools and factory intelligent matching systems, to create new digital system solutions, to achieve product standardization, quotation accuracy, production automation, supply scale, shorten the transaction cycle, improve the manufacturing efficiency of manufacturing enterprises, to help accelerate the digital development of manufacturing enterprises.

This round of financing was led by Fortune Capital (Chinese: 达晨创投), followed by Shunwei Capital (Chinese: 顺为资本), Dragonrise Capital Advisors (Chinese: 龙腾资本). The proceeds of the financing will be used to further expand the product matrix and accelerate the establishment of a flexible and agile advanced manufacturing base for industrial components.