Linear Capital Leads Angel Round in "Wance," Which Raises Nearly 100 Million RMB as Domestic Sensor Products Enter BYD and Other Top-Tier Customers

Author | Qianping Xiao Editor | Silai Yuan

HardKr has learned that domestic sensor manufacturer Wance recently completed a Pre-A funding round of nearly RMB 100 million, led by Tongchuang Weiyue with follow-on investment from Keli Sensing, Xiaofanzhuo Ventures, and existing shareholder Linear Capital. Qichen Capital served as the exclusive financial advisor. The proceeds will be used for R&D and market expansion.

In the industrial sensor market, international leaders such as Japan's Omron and Keyence have long held a dominant position. By contrast, factors including a shorter industry development history and relative talent shortages have historically constrained the growth of domestic Chinese sensor makers. With rising demand, however, domestic sensors are now seeing new opportunities, with multiple financing rounds announced in recent years.

That said, some domestic sensor players remain focused on generic products in the RMB 100 price range, with room for improvement in core technology and customer service capabilities. Founded in 2020, Wance targets the high-end domestic sensor segment, with products spanning precision measurement and industrial safety. The company has shipped over 100,000 units cumulatively.

Wance has structured its product portfolio based on market demand and its own capabilities. Its precision measurement line includes 3D cameras and laser distance measurement devices, both already shipping in volume. On the industrial safety side, safety door locks and safety light curtains are already shipping, while safety radar has completed R&D.

Precision measurement was Wance's entry point from day one, with advantages including short imaging time and high measurement accuracy. Take its 3D structured-light camera: Wance independently developed parameter calibration technology for structured-light systems, enabling millisecond-level real-time reconstruction of million-point clouds, with maximum 3D scanning speeds exceeding 100Hz. Additionally, for automotive-grade measurement scenarios serving leading customers, Wance's sensing technology can control error within 1 micron using its proprietary spatial coordinate calculation methods.

Wance is currently expanding its industrial safety product line, primarily for protecting personnel and machinery in industrial production settings. Given the stakes for human life and property, this segment is characterized by large market size and high technical barriers.

To address this, Wance's team includes veteran safety service experts and participates in industry standard-setting. Building on deep understanding of certification standards, Wance designs products accordingly — incorporating features such as redundant systems and sensor self-diagnostics — and its full product line has obtained multiple international certifications including EU CE, TUV, and RoHS 2.0.

Beyond tapping into downstream customer demand, ensuring quality in high-end sensors also requires transforming and cultivating the upstream supply chain. To address early issues such as component interference failures, Wance worked with suppliers to redesign from the ground up, resolving root causes.

To date, Wance has provided sensor products and solutions to numerous domestic and international customers including Foxconn, CATL, BYD, and Han's Laser, serving over 500 customers in total. Its product prices are approximately 30% lower than international brands.

On the team front, Wance's core founding team hails from Harbin Institute of Technology, the Chinese University of Hong Kong, and other institutions, with many years of experience at international leading sensor companies. The company also maintains collaboration with the Shenzhen Institutes of Advanced Technology, Chinese Academy of Sciences, bringing deep expertise in product definition, R&D, and customer service.

Cover image source | IC photo Layout | Chuqiao Ye