HONG KONG and LONDON, January 16, 2017 /PRNewswire/ --
$30 Million Invested in Gilo Industries Group
Kuang-Chi Group ('Kuang-Chi'), a Chinese disruptive technology group, announced the launch of its UK investment strategy today, as well as its investment of $30 million in Gilo Industries Group ('Gilo'), an advanced aerospace technology company based in Dorset, Kuang-Chi's first UK investment to date.
Kuang-Chi, based in Shenzhen, China, launched an international innovation fund in 2016, known as the Kuang-Chi GCI Fund (GCI Fund), to invest in companies worldwide. The fund is planned to grow to $300 million within the next three years, with a large focus on the UK, and Kuang-Chi expects the size of overall investments in the UK to be even larger in subsequent years.
With Gilo as a new member of Kuang-Chi's GCI portfolio companies, Kuang-Chi's investment is intended to improve and further commercialize its aviation technology and will help the company expand its business in the Asia-Pacific market and establish relationships with global market leaders across multiple industries. Gilo will continue to be headquartered in Shaftsbury, Dorset and all its manufacturing facilities will remain in the UK.
Dr. Ruopeng Liu, Chairman of Kuang-Chi, said, "The UK has a very attractive atmosphere for innovation with great potential for further growth. We are delighted to make our first UK investment in Gilo, which we hope to be the first of many investments in the coming years. Gilo is a fantastic company that is a leader in innovation, with breakthrough aerospace engineering technologies and products. We look forward to working with them to develop our visionary aviation technology."
He further explained, "This is only the start of Kuang-Chi's UK investment plans. Despite some fears surrounding Brexit, innovation is booming in the UK and Kuang-Chi has confidence in the UK market, which has a long history and a good reputation for innovation that will not fade away easily. Investing in British startups and technology companies in the growth stage is a key part of our long term strategic plan to invest in the most exciting, disruptive and innovative technologies around the world."
Gilo Cardozo, Founder of Gilo, said, "The support from Kuang-Chi is exactly what we need to continue to expand our production capabilities and embrace exciting new manufacturing technologies to help us grow and succeed in the global marketplace. It is a really clear example of how international organizations look to all areas of Britain for innovation and entrepreneurship and how they can boost regional, national and global industries."
In addition, Kuang-Chi launched the GCI Fund II at the end of last year, which will invest up to $250 million in companies developing technology in industries including robotics, IoT, telecommunications, and digital health, with a strong focus on the UK.
About Kuang-Chi Group
Founded in 2010 as a five-person team, Kuang-Chi has created a Global Community of Innovation of more than 2,600 employees in 18 countries and regions which is dedicated to disruptive innovation and principal investment in cutting-edge technology sectors including communications, metamaterials, and space technology. Kuang-Chi's subsidiary company KuangChi Science Limited (00439.HK) is concentrated on the development of future technology. The Group also operates through Shenzhen-traded Zhejiang Longsheng (002625.SZ) and Martin Aircraft Company (ASX: MJP), as well as research institutes and private companies.
For additional information, please visit: http://www.kuang-chi.com/en/
About the GCI Fund
Kuang-Chi launched the Kuang-Chi GCI Fund, an international innovation fund in Tel Aviv, Israel in 2016, to invest in companies worldwide. As the first Chinese fund of its kind, it combines investment in early to mid-stage global companies with Kuang-Chi's resources and has an investment amount up to $300 million. The first tranche of $50 million has been invested in Israeli computer vision pioneer eyeSight; Israeli voice analytics developer Beyond Verbal; Israeli video intelligence and analytics provider AgentVi; Norwegian biometric authorization innovator Zwipe; Canadian aviation company SkyX, and British aviation-focused company Gilo.
GCI Fund II will invest $250 million in global technology companies active in the areas of: smart city/smart home, IoT, artificial intelligence, VR/AR, and robotics, and will be supported by a new China-based incubator that has been established by Kuang-Chi to help bring its portfolio companies to the Chinese market.
About Gilo Industries Group Limited
Gilo Industries Group is a technology-led company with highly competent and professional aerospace engineering capabilities and considerable experience in aeronautical vehicle and propulsion system design. The company designs, develops and manufactures groundbreaking solutions that advance technology and discovery while meeting customer needs with high impact, best value aerospace products, systems and services. From world-class foot-launched powered paragliders to extreme ultra-lightweight propulsion systems for some of the world's most innovative aircraft and applications, Gilo Industries Group is at the forefront of aerospace engineering.
For more information, please visit http://www.giloindustriesgroup.com
SOURCE The PR Office Limited