SmartMore Corporation Limited Revenue, Valuation, Funding & Investors

SmartMore Corporation Limited is valued at $1.2B as of June 2021, a 8.0x multiple on its last reported $150M revenue.

Last SmartMore Corporation Limited valuation

$1.2B

Series B · Jun 2021

Last SmartMore Corporation Limited funding round

$200M

Series B · Jun 2021

SmartMore Corporation Limited revenue

$150M

Series B · Jun 2021

Key investors in SmartMore Corporation Limited

  • IDG Capital
  • HSG
  • ZhenFund
  • Green Pine Capital Partners
  • Lenovo Capital and Incubator Group (LCIG)
  • Co-Stone Venture Capital

SmartMore Corporation Limited Overview

About SmartMore Corporation Limited

SmartMore Corporation Limited is a Shenzhen-headquartered AI company advancing intelligent manufacturing and ultra-high-definition video processing. It develops edge AI chips and software for industrial vision systems, enabling defect detection in electronics assembly and quality control in automotive production. SmartMore supplies hyperspectral cameras and algorithms to factories in China and Southeast Asia.


Founded

2019

HQ

ChinaShenzhen

Status

Privately held

Customer focus

B2B

Revenue model

Product sales, Licensing, Subscription

Revenue

$150M (Jun 2021)

Valuation

$1.2B (Jun 2021)

SmartMore Corporation Limited Valuation

SmartMore Corporation Limited is currently valued at $1.2B, based on its Series B in June 2021. Read the announcement ↗

The $200M round was led by Hermitage Capital, with participation from ZhenFund, IDG Capital, Bull Capital, Lenovo Capital and Incubator Group (LCIG), Co-Stone Venture Capital and 3 other investors.

SmartMore Corporation Limited valuation by funding round

SmartMore Corporation Limited valuation by funding round
DateStageValuationRevenue Multiple
Jun 2021Series B$1.2B8.0x

SmartMore Corporation Limited Revenue

SmartMore Corporation Limited's latest recorded revenue is $150M, as of its Series B in June 2021. At a $1.2B valuation, that implies a 8.0x revenue multiple.

SmartMore Corporation Limited revenue by funding round

SmartMore Corporation Limited revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2021$150M$1.2B8.0xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

SmartMore Corporation Limited Funding History

SmartMore Corporation Limited has raised a total of $300M across 2 funding rounds.

SmartMore Corporation Limited's first fundraising round was a $100M Series A in October 2020. The most recent completed round was a $200M Series B in June 2021.

SmartMore Corporation Limited funding rounds

SmartMore Corporation Limited funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Series BHermitage Capital (lead); ZhenFund; IDG Capital; Bull Capital; Lenovo Capital and Incubator Group (LCIG); Co-Stone Venture Capital; APlus Partners; Green Pine Capital Partners; HSG$200M$1.2BSmartMore Corporation Limited is a Shenzhen-based Chinese startup founded in 2019 that develops artificial intelligence solutions for manufacturing, including over 30 intelligent manufacturing systems for industries like aircraft assembly and optical-component making, with clients such as Airbus, Carl Zeiss, Bosch, and Canon. Its flagship product, the industrial AI platform SMore Vimo, enables quality tracking of parts, components, or materials throughout the production process. The firm operates in the hard tech space, focusing on AI applications that enhance production efficiency. On June 24, 2021, SmartMore raised $200 million in a Series B funding round led by Hermitage Capital, with participation from IDG Capital, Sequoia Capital China (noted in some sources as HSG), Lenovo Capital and Incubator Group (LCIG), ZhenFund, and Bull Capital Partners. The company plans to use the funds to accelerate research and development amid China's push for smart manufacturing and increased investment in AI, robotics, and related sectors. SmartMore has raised a total of $300 million across five funding rounds, with 11 investors including Hong Kong Investment Management in a later unattributed round on June 12, 2024. Hermitage Capital, a key investor, maintains SmartMore in its unlisted portfolio alongside other AI and auto tech companies.
Oct 2020Series AHSG (lead); ZhenFund; IDG Capital; Lenovo Capital and Incubator Group (LCIG); Wentianxia Investment; Co-Stone Venture Capital; Green Pine Capital Partners$100M--

Who has invested in SmartMore Corporation Limited?

10 investors have backed SmartMore Corporation Limited across its funding rounds, including IDG Capital, HSG, ZhenFund, Green Pine Capital Partners, Lenovo Capital and Incubator Group (LCIG) and Co-Stone Venture Capital.

Lead investors include Hermitage Capital and HSG.


SmartMore Corporation Limited Investors

Investors in SmartMore Corporation Limited by funding rounds participated
InvestorHQRoundsRoleFirst check
ZhenFundChinaBeijing2ParticipantOct 2020
IDG CapitalChinaBeijing2ParticipantOct 2020
Lenovo Capital and Incubator Group (LCIG)ChinaBeijing2ParticipantOct 2020
Co-Stone Venture CapitalChinaShenzhen2ParticipantOct 2020
Green Pine Capital PartnersChinaShenzhen2ParticipantOct 2020
HSGHong KongHong Kong2LeadOct 2020
Hermitage CapitalHong KongHong Kong1LeadJun 2021
Bull CapitalCayman IslandsGeorge Town1ParticipantJun 2021

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SmartMore Corporation Limited Competitors

SmartMore Corporation Limited competitors include listed companies like Arcs Co, PCITECH and Appier Group, and private ones like Velaura AI, Motive and Qianxun Intelligence.

Public and private companies comparable to SmartMore Corporation Limited
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Velaura AIUnited StatesSan Jose, CAPrivate--$1B-
MotiveUnited StatesSan Francisco, CAPrivate$600M-$1.2B-
Arcs CoJapanJapanPublicly listed$4B$185M$1.3B0.2x
Qianxun IntelligenceChinaHangzhouPrivate--$1.4B-
PCITECHChinaChinaPublicly listed$1.5B$53M$1.4B0.9x
Appier GroupJapanJapanPublicly listed$281M$44M$1B2.9x

SmartMore Corporation Limited Public Comps

SmartMore Corporation Limited is still privately-owned, but its public comps include Elan Microelectronics, Via Technologies, Netac Technology Co, Wolfspeed, Guizhou Zhenhua Fengguang, Telsys, POET Technologies, Optasia, Arteris and Arcs Co.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Elan Microelectronics$387M$97M2.9x2.9x11.5x11.2x
Via Technologies$300M($2M)2.0x2.0x(296.7x)31.4x
Netac Technology Co$185M$6M6.1x-197.6x-
Wolfspeed$758M($1.1B)2.6x3.0x(1.8x)59.7x
Guizhou Zhenhua Fengguang$115M$35M6.5x-21.4x-
Telsys$136M$44M7.8x-24.5x-
POET Technologies$1M($60M)475.5x106.5x(8.6x)-
Optasia$265M$79M4.3x3.6x14.5x9.1x

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Common questions about SmartMore Corporation Limited

When was SmartMore Corporation Limited founded?SmartMore Corporation Limited was founded in 2019.
Where is SmartMore Corporation Limited headquartered?SmartMore Corporation Limited is headquartered in Shenzhen, China.
Is SmartMore Corporation Limited publicly listed?No, SmartMore Corporation Limited is a private, VC-backed company.
What is SmartMore Corporation Limited's valuation?SmartMore Corporation Limited was last valued at $1.2B in its Series B in June 2021.
How much funding has SmartMore Corporation Limited raised?SmartMore Corporation Limited has raised $300M across 2 funding rounds.
What was SmartMore Corporation Limited's last funding round?SmartMore Corporation Limited's last funding round was a $200M Series B in June 2021, led by Hermitage Capital.
Who are SmartMore Corporation Limited's investors?SmartMore Corporation Limited's investors include ZhenFund, IDG Capital, Lenovo Capital and Incubator Group (LCIG), Co-Stone Venture Capital, Green Pine Capital Partners, HSG, Hermitage Capital, Bull Capital, Wentianxia Investment and APlus Partners.
What is SmartMore Corporation Limited's revenue?SmartMore Corporation Limited's latest recorded revenue is $150M (June 2021).
What is SmartMore Corporation Limited's revenue multiple?SmartMore Corporation Limited's latest valuation implies a 8.0x revenue multiple ($1.2B valuation on $150M of revenue).
Which companies are comparable to SmartMore Corporation Limited?Companies comparable to SmartMore Corporation Limited include Velaura AI, Motive, Arcs Co, Qianxun Intelligence, PCITECH and Appier Group.

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