CAXA announced International Data Group Technology Venture Investment is contributing US$10 million to promote the growth and expansion of CAXA's product lifecycle management business.
China's increased manufacturing activity, both domestically and for export, means there is strong demand for CAXA's PLM offerings. As manufacturing grows beyond China, CAXA is set to expand and become a global PLM vendor network, supporting the integration of China's manufacturing industry into the global economy. This is the first time a venture investment has financed a Chinese PLM vendor.
"China has a large, untapped PLM market that continues to expand with the growing need for domestic and international manufacturing," says Lin Dongliang, general partner of IDGVC. "As the largest PLM company and leading PLM provider for China, CAXA is the ideal target for our investment. We interviewed many of CAXA's customers and partners before making our decision. IDGVC was impressed with their confidence in CAXA's technical capabilities, corporate culture, and employees."
Many Chinese enterprises have advanced their competitive ability and corporate productivity by using CAXA's PLM offerings, resulting in the development of more innovative products with reduced manufacturing times and costs. As China continues to become a center for global manufacturing, more companies will call on CAXA to help solve their PLM needs. CAXA's objective is to match the increasing demand of domestic industries.
"With this funding, CAXA plans to expand its service team while also enhancing the R&D development of existing PLM products," said Lei Yi, president and CEO of CAXA, "IDGVC's investment will support CAXA's plan for expansion, and eventual globalization of our business by working with leading global providers in CAD, CAM and PLM."