Crayfish.io Accelerator funding increases five-fold with second anchor investor, DBI
After only two months since launching, the ‘China-ready’ investment programme for UK and European companies increases by $3 million (£2.330 million), opening up new market segments and industries to the ground-breaking accelerator.
Based at St John's Innovation Centre, Ting Zhang, founder and CEO of Crayfish.io said: “We are very honoured to have DBI engaged in the Crayfish.io Accelerator – they are allocating $3 million of a $10 million fund to our programme which shows the trust and belief they have in us as an organisation. “Since the launch of the programme we have been inundated with candidates and having the ability to now cover more industry and technology segments will allow us to support more tech startups to prepare their China-export strategy.”
Shenzhen-based DB Investment Management Ltd (DBI) have joined the Crayfish.io Accelerator as the second Anchor Investor opening up further opportunities for UK and European semiconductor and IoT companies to join the programme and get ‘China-ready’.
Started in September 2019 with original anchor investor UK-China Enterprise Fund, DBI now add a $3 million contribution to the accelerator.
Fred Cai, CEO at DBI said: “When it came to identifying the right investment opportunity for the UK and Europe, it became clear that the Crayfish.io Accelerator was the top choice for us at DBI to work with. Our ability to expand markets for IoT and semiconductor prospects, made this a robust fit for both parties.”
DBI’s investment focus is on IoT and semiconductors, in industries including automotive electronics, consumer electronics, technologies applied in database facilities, as well as technologies for augmenting manufacturing processes. They are interested in companies coming though the Crayfish.io Accelerator with opportunities ranging from platform to core algorithm; wireless communication technology to terminals devices; and tools through to total solutions.
Those companies looking to be ‘China-ready’ can now secure anything up to £1 million through the Crayfish.io Accelerator; without having to have a presence in China which provides a quicker way of accessing Chinese investment, making this one of the most exciting Accelerator programmes available today.