Crayfish.io Accelerator funding increases five-fold with DBI as second anchor investor
Shenzen-based DB Investment Management Ltd (DBI) has joined the Crayfish.io Accelerator as the second Anchor Investor opening up further opportunities for UK and European semiconductor and IoT companies to join the programme and get ‘China-ready’.
Started in September 2019 with original anchor investor UK-China Enterprise Fund, DBI now add a USD3 million contribution to the accelerator.
Ting Zhang, founder and CEO of Crayfish.io, says: “We are very honoured to have DBI engaged in the Crayfish.io Accelerator – they are allocating USD3 million of a USD10 million fund to our programme which shows the trust and belief they have in us as an organisation.
“Since the launch of the programme we have been inundated with candidates and having the ability to now cover more industry and technology segments will allow us to support more tech startups to prepare their China-export strategy.”
Fred Cai, CEO at DBI, says: “When it came to identifying the right investment opportunity for the UK and Europe, it became clear that the Crayfish.io Accelerator was the top choice for us at DBI to work with. Our ability to expand markets for IoT and semiconductor prospects, made this a robust fit for both parties.”
DBI’s investment focus is on IoT and semiconductors, in industries including automotive electronics, consumer electronics, technologies applied in database facilities, as well as technologies for augmenting manufacturing processes. They are interested in companies coming though the Crayfish.io Accelerator with opportunities ranging from platform to core algorithm; wireless communication technology to terminals devices; and tools through to total solutions.
Those companies looking to be ‘China-ready’ can now secure anything up to GBP1 million through the Crayfish.io Accelerator; without having to have a presence in China which provides a quicker way of accessing Chinese investment, making this one of the most exciting Accelerator programmes available today.