HuoShi Creation Secures Nearly RMB 1 Billion in Series A Funding to Accelerate Data-Driven Industrial Development

VCBeat has learned that Hangzhou Firetone Technology Co., Ltd. (Firetone) recently completed a Series A financing round of nearly RMB 100 million. The round was led by Puhua Capital, with continued support from existing shareholders such as Wangmei. This marks Firetone’s latest funding round following its Pre-A round in 2017. The proceeds will be used to further increase R&D investment in product technology, enhance customer service experience, and accelerate market expansion.

Established in August 2015 and headquartered in Hangzhou, Firetone is a global leader in industrial big data and artificial intelligence technology. As a leading provider of data-driven solutions for industrial governance and a dedicated practitioner in the life and health industry, Firetone delivers comprehensive, data-driven solutions for industrial development to governments and industrial parks. These solutions include top-level industrial design, Industrial Brain systems, intelligent investment promotion systems, digital innovation service platforms, and professional industrial resource services, thereby facilitating cluster development and strengthening supply chains to advance the sophistication of industrial foundations and the modernization of industrial chains.

In the era of the digital economy, every industry is undergoing profound transformations in its work methods, business logic, and industrial ecosystem. Digital technologies are reshaping industrial value across the entire chain, reconfiguring every link of the industrial ecosystem, and thereby reconstructing industrial spaces. There is also an urgent need for governments to establish new governance models tailored to the R&D, physical, and service-oriented forms of industries.

Having navigated five years of industrial digitalization, Firetone has constructed a new type of industrial digital infrastructure—the "Industrial Brain." This system comprises industrial governance infrastructure and innovation service facilities based on the Industrial Internet platform, effectively integrating new digital infrastructure with industrial structural adjustment. The Industrial Brain establishes a digital foundation for industrial chains, serving as a key tool and mechanism to fully leverage the command and decision-making role of "chain leaders." By conducting comprehensive, real-time dynamic monitoring of industrial chains and combining this with analysis to identify bottlenecks and development opportunities, it provides a basis for decision-making in "building clusters and strengthening chains" and optimizing industrial resource allocation. Recently, Firetone’s Industrial Brain was selected as an outstanding case of new digital infrastructure in Zhejiang Province’s digital economy.

Firetone is also building innovation infrastructure based on the industrial internet (initially a digital innovation service platform). This represents another layer of new industrial infrastructure. By establishing digital platforms as key leverage points, Firetone aims to create an integrated online-offline ecosystem for biomedical innovation services and virtual industrial clusters. This approach empowers the biomedical value chain by reducing costs, accelerating supply-demand matching, and enhancing quality control, thereby meeting enterprises’ innovation service needs throughout their entire lifecycle. The goal is to make innovation more accessible, thus improving the efficiency and security of the biomedical industry’s supply chain. Currently, Firetone has implemented these practices in Beijing, Chengdu, Changchun, Shanghai, and other cities.

Jin Xia, Founder and Chairman of Firetone Creation, is a successful entrepreneur with backgrounds in IT, finance, and biotechnology. She holds multiple national invention patents and led the development of the enterprise standard for the “Industrial Classification Catalog of the Bioeconomy.” In 2016, she was selected as an overseas high-level talent under the “5050” Program. The “Industrial Brain” team she leads was recognized as the only leading young entrepreneurial team in Hangzhou in 2018 and was included in the Ministry of Science and Technology’s “2019 Innovative Talent Promotion Plan.”

Jin Xia stated, “We clearly perceive that the world has become fundamentally different since 2020. At the same time, we keenly recognize that data, as a factor of production, is unlocking boundless possibilities across various industrial sectors. It is evident that data intelligence and networked collaboration are breaking down the linear models characteristic of the traditional industrial era. With the advent of the 5G and industrial internet age, building a modern industrial chain system has become a national priority, and the dual-circulation strategy—integrating domestic and international markets—has emerged as a major national trend. In this context, Firetone and its team are embarking on a new journey.”

“In the future, Firetone will serve 100 cities, 1,000 industrial parks, and 100,000 enterprises across China through its Industrial Brain and industrial internet services, achieving the closed-loop implementation of a data-driven industrial development model. This will address issues such as structural imbalances, accelerate the modernization of industrial and supply chains, and continuously empower industries with digitalization,” introduced Jin Xia.

Wang Jun, Founding Partner of Puhua Capital, holds a highly favorable view of Firetone’s “Industrial Brain,” regarding it as a next-generation comprehensive solution for industrial development and a new engine driving industrial progress. Industrial services have long been a key focus area for Puhua Capital. We believe that Firetone will evolve into an ecosystem-level company centered on its Industrial Brain and achieve strong performance in the capital markets.

It is understood that the Industrial Brain technology platform—the Huoshi Industrial Digital Asset Management Platform—has achieved data aggregation on the industrial internet, leveraged artificial intelligence to enhance data value, and utilized blockchain to ensure the security of digital asset operations. This provides engineered technical safeguards for urban economic operation system networks, supporting the expansion of the Industrial Brain from biomedicine to multiple industries, including high-end equipment, artificial intelligence, energy conservation and environmental protection, integrated circuits, and new materials. To date, Huoshi’s Industrial Brain has served more than 20 core cities, including Beijing, Shanghai, and Guangzhou, as well as over 100 life and health industrial parks and tens of thousands of enterprises.