Hylands Assists North Ocean Photonics in Completing Series B+ Financing of Nearly RMB 400 Million

Recently, Shanghai North Ocean Photonics Co., Ltd (hereinafter referred to as “North Ocean Photonics") announces the conclusion of a B+ series financing of nearly RMB 400 million. The series of financing was led by CITIC Zhengye Xinye Industry Fund, with the joint participation by strategic and financial investment institutions such as Yunfeng Fund, Haiwang Capital under Spinnotec, Jianxin (Beijing) Investment, Future Capital, Source Code Capital, and Winsdom Capital (Country Garden Strategic Alliance); and followed by existing shareholders such as Kinzon Capital, Walden International, Lingang Sc-innovation Invest, Vision+ Capital, Oriza FOFs and Chenhui Venture Partners. 

Headquartered in Shanghai, China, North Ocean Photonics is a hi-tech company focusing on wafer-level optics and optical integration, with members of the international and domestic top scholars in the field of optoelectronics and industry veterans experienced in the optoelectronic industry for many years. Relying on own profound technology accumulation and high-precision manufacturing process, by incorporating the innovative ideas of integrated optics and integrated circuits, North Ocean Photonics is committed to exploring the realization and innovative applications in the field of cutting-edge photonics and optoelectronics, so as to contribute to China's overtaking in the next generation of photonics technology and unveiling the prologue of consumable photonics. The current series of financing will serve to further improve the wafer-level optical capability of the Company, fully cooperate with important customers and key partners, and upgrade the closed loop of R&D mass production system. 

As the legal counsel of the lead investor, CITIC Zhengye Xinye Industry Fund, Hylands has provided services such as legal due diligence, drafting and revision of transaction documents for the Project. The Project is led by Partners Zhitong ZHU and Wenhao DONG from Hylands, with team members including apprentice lawyers Minmin SHAN and Youyi WEI.