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Qianxun Location Becomes Beijing’s Latest Unicorn with 16 Billion Yuan Valuation​

Qianxun Location Becomes Beijing's Latest Unicorn with 16 Billion Yuan Valuation

Qianxun Location Discover how , a leader in high-precision positioning, secures new funding and rises to unicorn status in Beijing, reflecting the growing opportunities in intelligent transportation and smart city management.
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Qianxun Location, a leader in high-precision positioning services, has achieved a remarkable milestone by reaching a 16 billion yuan valuation, making it Beijing’s latest unicorn. In a surprising twist for the venture capital market, Qianxun Location recently announced its latest round of financing, led by Beijing Information Industry Development Investment Fund. Additional contributions came from Shanghai Shuyu Dingyuan Private Equity Investment Fund, Beijing Dongcheng District Science and Technology Innovation Industry Investment Fund, and Qingdao Zhonghe Xingyao Venture Capital Fund.

Founded in 2015 as a joint venture between China North Industries Group Corporation (Norinco) and Alibaba Group, Qianxun Location has carved a niche in the “Internet + Location (Beidou)” space. The company integrates and builds on the Beidou ground-based network to provide a cloud platform for location services. Its core product, high-precision positioning services, is already applied in intelligent transportation, autonomous driving, and urban management.

As of May this year, Qianxun Location’s Beidou high-precision time-space services surpassed 10 billion daily service instances, with more than 2 billion smart devices connected globally. The company’s rapid growth is reflected in the broader market, with China’s satellite navigation and location services industry reaching a total output value of 536.2 billion yuan in 2023, a 7.09% year-on-year increase.

Despite its significant valuation growth, Qianxun Location has seen a more cautious rise compared to other market players. The company’s valuation increased by 35 billion yuan over four years, representing an annual growth rate of approximately 7%. This modest growth comes amidst a broader industry trend where venture capital funding has tightened, and startups are facing increased scrutiny on their business fundamentals.

Qianxun Location’s journey to unicorn status reflects the burgeoning opportunities in sectors such as intelligent transportation, autonomous driving, and smart city management. As global markets increasingly embrace these technologies, Qianxun Location stands at a pivotal point in answering critical commercialization questions for the high-precision positioning industry.

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