QST reports the successful completion of the second round of funding and the installation of the new board of directors
Shanghai QST Corporation (QST) has recently received its second round of funding. Investors include Shanghai Alliance Investment Ltd., Shanghai MtM Stock Right Investment Fund, SDIC Venture Capital Fund and Chongqing Linkong Development Investment Group. The total amount QST received in this latest round of funding is reportedly the single highest raised by a MEMS sensor design company in China.
Recently, the QST board of directors held a meeting to complete the reelection of directors.
This latest round of funding enables QST to increase its investment in product research and development and attract highly competent talent that will help the company sustain its competitive advantage in the MEMS industry. QST plans to broaden the distribution of MEMS sensor product lines through strategic partnerships and alliances with companies across different industries such as IoT, smart phones, wearables, and automobile applications.
Mr. Sun Zhen, CEO of QST, stated: "Since its founding in 2012, QST has focused on the independent innovation of core technologies and investing in MEMS sensor product research and development. Currently, our MEMS sensors are used in many well-known products and has significant presence in the market. The new 6-axis IMU chip integrated with the 3-axis gyroscope and 3-axis accelerometer, the intelligent sensor chip integrated with the 3-axis accelerometer, MCU processor and Bluetooth wireless communication function have been put into batch production and obtained positive feedback from the market. As a leading company in the China MEMS sensor industry and with the completion of this round of financing, the new QST will enter the "fast lane” and will accelerate its development in Shanghai, US Silicon Valley, Taiwan, Shenzhen and Hong Kong. The global presence is to enhance the company’s competitiveness and further build a complete MEMS industrial chain with independent, key core technologies.”