Cowin Capital

Cowin Capital, established in 2000, is a Shenzhen-based private equity firm specializing in early-stage investments. With 18 years of experience, it focuses on supporting the growth of small and medium enterprises, primarily in the energy, communication, electronics, and environmental protection sectors. Cowin Capital takes a long-term approach, aiming to create value through strategic partnerships and operational support. It has successfully invested in over 300 companies, with 60 becoming publicly listed and 150 achieving successful exits. Notably, Cowin Capital was one of the first venture capital institutions to be listed on the New Third Board (NEEQ) in China.

Cai Weiliang

Partner

Kai Chen

Partner

Ding Baoyu

Managing Director, Partner

David Ding

Managing Partner

Dong Dongdong

Partner

Past deals in Embedded Software

Wolei Technologies

Funding Round in 2025
Wolei Technologies specializes in the development of advanced automotive-level power semiconductor modules, intelligent driving core systems, and automotive electronic control solutions. The company offers a range of comprehensive intelligent solutions, including both software systems and hardware equipment designed for automation and intelligent measurement. Wolei Technologies focuses on delivering high-quality products to support various sectors such as electronic control, autonomous driving, new energy power systems, chassis safety, and rail transit. Recognized for its leadership in production, sales, and market share, the company operates as a provincial business technology center and high-tech R&D center, contributing significantly to the advancement of discrete manufacturing industries.

Gooxi

Series A in 2024
Gooxi is a hardware manufacturer specializing in designing and producing server hardware for industrial clients. Its product portfolio includes server chassis, motherboards, complete machines, and software like BIOS and BMC, catering to diverse sectors such as artificial intelligence, cloud computing, data centers, and cloud storage. The company is dedicated to research and development, production, sales, and service, making it one of the few hardware manufacturers in its field.

Shifan Microelectronics

Seed Round in 2024
Shifan Microelectronics offers intelligent display SOC chip design and development services. Shifan Microelectronics is primarily concerned with the research and development of display processing and device technologies.

MatriBox

Seed Round in 2024
MatriBox is a supplier specializing in edge control systems and solutions for industrial automation. It designs, develops, and manufactures high-performance controllers and industrial network IO products, integrating information to facilitate cloud-edge-device collaboration. The company offers comprehensive services including whole-plant automation and digital project implementation to assist clients in their industrial digital transformation efforts.

Sinsegye

Series A in 2023
Sinsegye is a product-driven enterprise that specializes in industrial control supercomputing infrastructure. The company develops and provides industrial intelligence computers and software aimed at enhancing industrial automation and intelligence. Its offerings are tailored to advanced manufacturing, high-end equipment manufacturing, new energy, and industrial IT innovation sectors. By focusing on these areas, Sinsegye seeks to transform the current landscape of industrial computing, equipping users with the tools necessary for modernization and efficiency in their operations.

Sinsegye

Seed Round in 2023
Sinsegye is a product-driven enterprise that specializes in industrial control supercomputing infrastructure. The company develops and provides industrial intelligence computers and software aimed at enhancing industrial automation and intelligence. Its offerings are tailored to advanced manufacturing, high-end equipment manufacturing, new energy, and industrial IT innovation sectors. By focusing on these areas, Sinsegye seeks to transform the current landscape of industrial computing, equipping users with the tools necessary for modernization and efficiency in their operations.

MatriBox

Seed Round in 2023
MatriBox is a supplier specializing in edge control systems and solutions for industrial automation. It designs, develops, and manufactures high-performance controllers and industrial network IO products, integrating information to facilitate cloud-edge-device collaboration. The company offers comprehensive services including whole-plant automation and digital project implementation to assist clients in their industrial digital transformation efforts.

Sinsegye

Seed Round in 2022
Sinsegye is a product-driven enterprise that specializes in industrial control supercomputing infrastructure. The company develops and provides industrial intelligence computers and software aimed at enhancing industrial automation and intelligence. Its offerings are tailored to advanced manufacturing, high-end equipment manufacturing, new energy, and industrial IT innovation sectors. By focusing on these areas, Sinsegye seeks to transform the current landscape of industrial computing, equipping users with the tools necessary for modernization and efficiency in their operations.

AlpsenTek

Series A in 2022
AlpsenTek is a high-tech company specializing in the research and development of machine vision sensors and algorithms. It has created advanced machine vision imagers featuring innovative pixel structures, alongside comprehensive solutions that encompass modules, algorithms, and systems. Drawing on its team's extensive expertise in vision sensors, system-on-chip technology, and imaging signal processing, AlpsenTek aims to enhance the machine vision ecosystem. The company's technology includes hybrid biomimetic vision chips and integrated solutions, which are applicable in diverse fields such as robotics, autonomous driving, consumer electronics, surveillance, and industrial monitoring. By providing dynamic light sensing capabilities and biomimetic functions, AlpsenTek addresses the evolving needs of various industries, positioning itself as a key player in the machine vision market.

FDMTEK

Seed Round in 2021
Zhongke Benyuan manufactures digital signal processor (DSP) chips. It provides DSP products and solutions for industrial control, renewable energy, electric vehicles, household appliances, rail transit, and other applications.

TBSTest Technology

Series C in 2021
TBSTest Technology is a developer and manufacturer of semiconductor test equipment, focusing on integrated circuit automatic test equipment, ATE, and SOC test equipment. It provides testing solutions including hardware, software, test boards, and memory systems, and offers pre-sales and after-sales support. The company serves IC designers and producers as well as scientific research institutions and universities. Founded in 2017, it is based in Beijing with branch offices in Xi’an, Shanghai, and Suwon, South Korea.

JingxunSoft

Series B in 2019
Shenzhen Jingxun Software Communication Technology Co., Ltd. specializes in manufacturing Internet of Things (IoT) based wireless audio and lighting solutions. Founded in 2003 and headquartered in Shenzhen, China, the company develops Bluetooth chips, including those for audio and BLE SIG Mesh technology, which are used in lamps and various electronic products. JingxunSoft also provides an application that allows users to control lighting systems through cloud connectivity, integrating artificial intelligence for enhanced functionality. The company's offerings enable consumers to manage and schedule their home lighting and audio systems, while also allowing manufacturers to incorporate wireless capabilities into their products.

Wolei Technologies

Post in 2018
Wolei Technologies specializes in the development of advanced automotive-level power semiconductor modules, intelligent driving core systems, and automotive electronic control solutions. The company offers a range of comprehensive intelligent solutions, including both software systems and hardware equipment designed for automation and intelligent measurement. Wolei Technologies focuses on delivering high-quality products to support various sectors such as electronic control, autonomous driving, new energy power systems, chassis safety, and rail transit. Recognized for its leadership in production, sales, and market share, the company operates as a provincial business technology center and high-tech R&D center, contributing significantly to the advancement of discrete manufacturing industries.

ICOMWELL

Angel Round in 2018
ICOMWELL is involved in the development of sports wearables. They provide accurate statistics of running steps, step length, stride frequency, distance, speed, and pace. They also detect the ground situation, inversion situation, and stride pace.

Xinhui Aerospace

Xinhui Aerospace is a company specializing in the development and manufacturing of aerospace electric servo systems. It focuses on the research, development, production, sales, and service of electric servo systems specifically for the aerospace sector.
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