Pingfanghe Secures Tens of Millions in Pre-A Funding Led by Boyuan Capital and Followed by Mingshi Capital

PE Daily (WeChat ID: pedaily2012) reported on November 28 that Sigma Squares, an industrial vision company, secured tens of millions of yuan in Pre-A round financing, led by BioTrack Capital.Mingshi CapitalCo-investment. The funds from this round will be primarily used for product development and market expansion.

According to 36Kr, Sigma Squares officially began operations in early 2018. Its product portfolio includes intelligent industry vision equipment, machine vision and industrial data platform software, as well as enterprise-level solutions providing comprehensive visual systems for industrial manufacturing companies.Sigma Squares received investment from Mingshi Capital andHongtai Fundof tens of millions of yuan in Angel+ round financing.Currently, Sigma Squares primarily focuses on defect detection for products with irregular shapes, serving industries such as pharmaceuticals and medical devices, apparel manufacturing, and the 3C sector. Examples include defect detection in transparent materials (such as contact lenses, optical lenses, light-guiding materials, and glass products) and flaw extraction and recognition on complex backgrounds (such as knitted fabrics and battery packaging materials).

Furthermore, Sigma Squares has independently developed a centralized enterprise server platform to provide cloud-based visual services for businesses. A key feature of this system is its ability to centrally transmit images and data from various vision systems across different modules or production lines to a cloud server, where algorithms process the information to generate results. Through Sigma Squares’ platform software, customers can experience a comprehensive smart manufacturing inspection environment.Sigma Squares’ clients include the world’s leading contact lens manufacturers, multiple world-renowned contract manufacturers of contact lenses in mainland China and Taiwan, several well-known optical lens producers, top global apparel companies, as well as Huawei, Lenovo, Bozhon Precision Industry,BokelaiIntelligent Equipment, Baxter Qiaoguang Pharmaceutical,Kelun Pharmaceutical, Yangtze River Pharmaceutical Group and Dalong Xingchuang, etc.

Feng stated: Currently, China's pharmaceutical and medical device manufacturing industry is in the stage of intelligent upgrading and transformation, with machine vision integratedAutomationProduction and the ability to handle complex inspections are becoming industry trends. Dr. Cai and his team possess a solid foundation in core technologies, reliable innovative technical solutions, and effective market expansion capabilities. They have successfully provided comprehensive machine vision solutions to dozens of pharmaceutical and medical device manufacturers. As drug price reduction policies are further implemented, cost control has become increasingly critical. Enhancing automation levels to supply high-quality drugs at the lowest possible cost will emerge as one of the core competitive advantages for pharmaceutical enterprises.

Founder of Mingshi CapitalPartnerHuang MingmingBelief: Future flexible manufacturing requires data collaborationCloud FactorySigma Squares’ industrial vision solution, built on a cloud platform architecture, enables visual data to synergize with other production equipment and manufacturing processes, forming a closed-loop system that is indispensable for cloud factories and holds significant growth potential. Since MingShi Capital’s angel investment in Sigma Squares, the company has resolved complex inspection, classification, and localization challenges that were traditionally difficult for industrial vision systems to address. Its solutions have been successfully implemented and scaled across the pharmaceutical and medical device manufacturing sectors, as well as the textile and apparel industry. This demonstrates that Sigma Squares’ technology and product capabilities are industry-leading. Our follow-on investment is driven by our continued confidence in Sigma Squares’ growth prospects.