secures new investor funding to expand BoAT ecosystem, integrating innovative Blockchain+IoT solutions
4 min readJun 13, 2020

-- recently completed a new round of financing jointly invested by Longwin Capital and WanXiang Blockchain. Also announced, was Fosun Group’s co-founder Mr. Liang XinJun, serving as strategic advisor to moving forward. The funds raised in this round will be mainly used in two areas: the continuous technological product innovation of the BoAT blockchain application framework solution, and to spur on more trials of blockchain applications with BoAT framework into vertical use cases. is experienced in piloting blockchain application scenarios in the 5G IoT era and extremely skilled at maturing partnerships to promote the Blockchain IoT Module Alliance ecosystem formation.

The declaration of a trusted blockchain ecosystem is primed for a billion dollar-level Internet of things marketplace.

As a stealthy techno startup firm focusing on the integration of IoT and blockchain technology, fuses rich technical resources in the cellular IoT industry combined with intelligent applications enabling cellular IoT use cases.’s unique blockchain application framework called “BoAT” (Blockchain of AI Things) embedded in the cellular IoT platform has been provided as a leverage to help IoT equipment manufacturers quickly tap into blockchain's potential focusing on trusted data and applications.

During December 2019, and nine mainstream cellular wireless module manufacturers (Fibocom, Quectel, Neoway, SIMCom, MeiG Smart, Gosuncn Welink, Mobiletek, Lierda and Yuge) jointly launched the Blockchain IoT Module Alliance. Each Alliance member will successively release their own branded blockchain IoT module products based on the BoAT framework during 2020.

According to third-party statistics, in 2019, global shipments of cellular IoT modules exceeded 300 million, and the top ten manufacturers accounted for 90% of the global market share, while the total market share of the nine major participating manufacturers was 65% to 70% of that total.

Once each of these 9 major cellular module manufacturers launch blockchain module products based on the BoAT blockchain application framework, the BoAT blockchain application framework will help hundreds of millions of IoT devices to achieve trusted data on-chain, blossoming billion dollar-level trusted blockchain momentum in the Internet of Things market.

From the earliest launch of up to the latest round, Wanxiang Blockchain has been a strategic investor and guiding beacon for commitment and trust. During this latest round of financing, Dr. XIAO Feng, Wanxiang Blockchain Chairman and CEO, believes that “We have entered the information age. New technologies have brought about tremendous changes in the way social production is organized. In the future, digital technologies such as the Internet of Things, blockchain, artificial intelligence, and 5G will bring transformative effects.

With the rise of data as a factor of production, IoT technology which has been developing over the past 20 years has finally had the chance to transform from an auxiliary to a much-sought-after technology with the integration of blockchain technology. has emerged on the scene and into the market during a very auspicious period and integration of IoT devices with BoAT blockchain capabilities will help to digitize and monetize the true value of various IoT assets. "

Having just been invited to serve as a strategic advisor for, Mr. Liang Xinjun, Fosun Group co-founder commented, "I am very enthusiastic about utilizing blockchain technology for the Internet of Things, since both convergent technologies serve to play synergistic and integrating roles. Plus has quickly become a fast-moving, respected leader in this cross-functional integration of two different technologies. has jointly launched the Blockchain IoT Module Alliance along with mainstream cellular module manufacturers to better assist and influence the transformation of the digital economy to operate with trust.”

Mobike’s co-founder, Mr. Xia Yiping, also shared his evaluation of in this way

“As one of’s angel investors in the early round, I have witnessed the progress of from 0 to 1 in the past year. Both myself and the whole investment team are very optimistic about‘s long term rugged adaptability to their environment. From the perspective of investors, we value the strategic coordination capabilities and cross-industry integration capabilities of for global IoT industry resources.’s BoAT framework helps to solve severely fragmented IoT vertical industry integration with blockchain technology through the cellular platform to build a new generation of information infrastructure. "

Mr. Leo Lin, CEO of expressed his viewpoint this way "In the era of Internet of Things finance, it is crucial to ensure the credibility of data before recorded on chain. The blockchain enjoys tamper-resistant characteristics as the Internet of Things protects the authenticity of the data from the source of the data. The blockchain IoT module based on the BoAT blockchain application framework will be actively implemented in some key application vertical use cases through the Blockchain IoT Module Alliance and ecosystem partnerships already formed”.



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