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Unicorns know iponews

｜Information leverages new capital｜

Recently, according to Bloomberg, 3D design software manufacturer Manycore Tech Inc. is preparing to go public in Hong Kong as early as this year to raise up to US$200 million in funds. It has currently appointed China Construction Bank International and JPMorgan Chase to advance the listing plan. The plan is still in its preliminary stages and details such as timetable and scale may be adjusted.

Comprehensive | Bloomberg Company Official Website 36Kr Editor | Arti

This article is for information exchange only and does not constitute any trading advice

According to the official website, Qunhe Technology is a world-leading cloud design software platform and SaaS service provider. It was founded in November 2011 and focuses on the technical research and development and application of cloud design systems and three-dimensional content production, and is committed to achieving the mission of "making future life what you see is what you get".

Qunhe Technology takes high-performance computing rendering engine, spatial cognition and artificial intelligence technology, distributed 3D big data and multimedia digital information processing cluster as its core technology. The company's valuation exceeds 1 billion US dollars, making it a unicorn.

Currently, the company owns brands such as COOHOM, COOHOM, MODAYUN, and MEIJIAN, and its services cover more than 200 countries and regions.

Kujiale is a well-known brand of Qunhe Technology, which was officially launched in November 2013. Based on five major technical engines, it provides users with powerful and easy-to-use 3D cloud design tools, which are deeply loved by the majority of design users.

Currently, the platform cooperates with more than 32,000 brand companies.

Qunhe Technology established the international brand COOHOM in 2017, headquartered in New York, USA, and has offices or branches in Los Angeles, Houston, Philadelphia, Florida, Australia, Japan, Thailand, Vietnam, Indonesia, Malaysia, etc.

COOHOM services cover more than 200 countries and regions, providing home cloud design and 3D rendering services and end-to-end integrated 3D design e-commerce solutions to global furniture retailers, manufacturers and interior designers.

COOHOM regularly participates in furniture industry-class exhibitions including the High Point Show in the United States, and is a partner of the world's first-tier home furnishing companies and designer community organizations.

Qunhe Technology currently has more than 2,000 employees. Most of the team members come from famous domestic universities such as Tsinghua University and Zhejiang University. Some of them have master's and doctoral degrees in computer science from prestigious universities including Harvard, Massachusetts Institute of Technology (MIT), Columbia University, University of Illinois at Urbana-Champaign (UIUC), and University of Bath.

The company's core technical team has worked for well-known domestic and foreign companies such as Google, NVIDIA, Amazon, Autodesk, Sony, Microsoft, Alibaba, and NetEase, and has the most advanced technology and management in the world.

In June 2021, Qunhe Technology applied for a U.S. stock listing, aiming to become the first 3D cloud design company, but the listing was not pursued. According to the prospectus disclosed earlier, Qunhe Technology was once in a loss-making state due to high R&D, sales and marketing expenses.

In 2019, 2020 and the first quarter of 2021, the company achieved revenue of 282 million yuan, 353 million yuan and 100 million yuan respectively; R&D investment in the same period was 192 million yuan, 271 million yuan and 99 million yuan respectively, and sales expenses were 197 million yuan, 219 million yuan and 71 million yuan respectively. The company's net losses were 261 million yuan, 297 million yuan and 117 million yuan respectively.

At that time, Qunhe Technology stated in its prospectus that if it wanted to continue to remain competitive in the market opportunities brought about by the cloud transformation of China's interior design, decoration and construction industries, it must continue to keep up with the evolving industry trends and rapid technological development.

Qunhe Technology is highly favored in the capital market and has become a star unicorn company in the industry.

Since the company was founded, Qunhe Technology has completed nine rounds of financing, with investors including GGV, Shunwei Capital, Hillhouse Capital, Yunqi Capital, Linear Capital, and GGV Capital.

The home furnishing and decoration industry served by Qunhe Technology has ample room for imagination. Some companies that provide intelligent manufacturing equipment and software to home furnishing and building materials companies have grown to a scale of annual revenue of tens of billions of yuan.

Among digital home furnishing design service providers, Coolhome, a subsidiary of Qunhe Technology, has obvious advantages and is a leading enterprise. The number of enterprises and individual users it serves has reached a large level.

It is worth noting that Chen Zhuo, senior vice president of Qunhe Technology, said that the platform has always paid attention to the application of AI technology. In terms of products, Qunhe Technology has been exploring the content collaboration model of human-computer interaction, combining the user's workflow, including intelligent space layout algorithms, lighting intelligent lighting algorithms, including 2D material generation models and 3D space models. AI algorithms have played an important role in Qunhe Technology's product matrix.

Qunhe Technology has created the world's first 3D space generative AI engine, including the underlying super computing center, multi-modal massive industrial data, and self-developed spatial AIGC large model. Based on this engine, a variety of AI applications have begun to grow to serve different scenarios and needs, and they are solving personalized problems in each application scenario.

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