Beijing-based supply chain information tracking solution provider Acctrue closed its Series B round financing, collecting RMB 60 million (USD 8.4 million) from the private equity firm Cowin Capital, 36Kr reported Monday.
Acctrue, founded in 2004, helps companies manage their entire supply chain, from production to end consumers, by collecting real-time and traceable data of their products, helping these firms to solve problems in security, inventory and distribution management. The company employs technologies such as optical character recognition, two-dimensional code, radio frequency identification and Narrowband internet of things (NB-IoT) to serve its clients.
The high-tech firm also builds data platforms for such companies to host data and facilitate data analysis, which can aid decision-making in areas such as production and marketing.
The company operates mainly in China, serving companies mostly in the medicine industry, food business, government regulation, and iron and steel manufacturing.
Its customers include major pharmaceutical companies firms as Pfizer, AstraZeneca, Bayer, Johnson & Johnson, and Sanofi. Consumer products manufacturing companies such as Mengniu and Yili are also its customers.