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36Kr recently learned that the 5G+ industrial Internet technology provider “Lingxi Internet of Things” has completed a 10 million angel round of financing, and the investor is the Water Drop Rock Angel Fund. This round of funding is divided into two aspects: on the one hand, it is used to strengthen the stocking of standard hardware products and key chip modules for industrial enterprise users; on the other hand, it is used to strengthen the iteration of the industrial IoT platform for industrial service providers and accelerate Evolve to a self-service low-code platform to lower the technical threshold and further expand the scope of partners.
LingXi IOT focuses on industrial sites, deploying products in three application scenarios of on-site collaboration, process collaboration and data collaboration, forming a full-stack product line from edge computing layer, PaaS platform layer to SaaS application layer, which can be deployed at low cost and quickly , Easy operation and maintenance, strong security, and integration as the core advantages, realize the “management visualization” of the three dimensions of equipment status parameter collection, production process monitoring and production operation data analysis, and improve the equipment availability rate, production line balance rate, and order Indicators such as on-time delivery rate and inventory turnover rate form a closed data loop to help companies achieve quantifiable value enhancement.
Lingxi IOT has three products, namely HOMEY Smart Andon System, C-MES Smart Manufacturing Information System and LinkInsight Transparent Factory System. The three products are based on a common underlying platform, which consists of a 5G+MEC global wireless IoT platform and an integrated industrial operating system for end-side cloud network. The HOMEY intelligent Andon system transforms “human management equipment” into “equipment looking for people”, and directly reports to the system when there is a problem with the equipment, realizing the on-site collaboration of “human, machine, material, and law” The C-MES intelligent manufacturing information system uses VSM (Value Stream Mapping) to manage each value-added node in the execution of production tasks, obtains the input and output of each process, and realizes the schedule from planning to completion of each production order. Full life cycle management. The LinkInsight Transparent Factory System monitors equipment vibration based on AI technology, and realizes predictive maintenance and production performance evaluation of key equipment.
5G is another technical layout direction of LingXi Internet of Things. Lingxi IOT’s 5G product features are embodied in three aspects: It realizes 5G wireless broadband access externally and replaces traditional private lines. The company is the first batch of manufacturers to produce industrial-grade 5G CPE; internally builds 5G fully connected factories to meet the needs of industrial On-site networking requirements for bandwidth, real-time, connection density, and mobility; an edge cloud platform with “connection + computing power” as the core is integrated at the edge layer to meet the core demands of industrial enterprise users for industrial application data not to be shipped. At the same time, it better supports the cloud training and edge deployment requirements of industrial AI. The CPE products of LingXin Internet of Things have also been specially optimized for 5G Slicing/UPF, achieving heterogeneous integration with operators 5G+MEC, and supporting smooth evolution to 5G direct-connected networks. At present, the company’s 5G+ industrial Internet products have passed China Mobile’s network testing certification, joined China Mobile’s sailing plan, passed the connectivity testing certification of China Unicom’s MEC platform, and passed the connectivity testing certification of Huawei’s strict selection platform.
The business model of Lingxi IOT can be divided into two types: one is to sell three standardized products; the other is to act as a partner of a third-party industrial service provider, providing it with a 5G OPEN CPE all-in-one platform and a wealth of intelligent industrial terminals Hardware, in which all-in-one platform integrates industrial OS, supports LoRaLAN and has functions such as device protocol analysis.
Lingxi IOT 5G OPEN CPE all-in-one platform
Hengtong Group is one of the typical customers. Before the use of the LingXi Internet of Things system, the ratio of the number of second-line equipment maintenance personnel to workshop workers was 1:10, but the problems of front-line operators were often not solved, and the coordination efficiency of first-line and second-line employees was low, which caused a waste of resources. The Lingxi IOT system has realized the functions of “classified information, graded reporting, grouping and partition management” on the production site, streamlining the second-line support staff to 50%, and increasing the production order fulfillment rate by 10-30%. Hitachi Elevator’s subsidiary company that produces cars also uses the LingXi Internet of Things system, which doubles the inventory turnover rate after use, and only needs 2/3 of the number of production lines to complete the same production task order demand.
Wanneng told 36 krypton that at present, Lingxi IOT covers more than 100 customers, with more than 400 application cases, and each case customer pays 200,000-300,000 on average. In the customer base, foreign-funded enterprises account for a relatively high proportion of 60-70%, and state-owned enterprises and private enterprises account for 30-40%. The company’s revenue has been stable in recent years, and its hardware gross profit margin has reached 60%.
In 2021, Lingxi IOT will continue to expand its customer range. Small B customers, mainly terminal industrial enterprises, and large B customers, mainly industrial service providers, are the target customer groups. In particular, industrial service providers who have entered the industrial cluster model are the major B customers that Lingxi focuses on.
According to data released by the Industrial Internet Industry Alliance, the global industrial Internet platform market will grow to USD 13.82 billion in 2023, with an expected compound annual growth rate of 33.4%. Wanneng believes that the contradiction between the fragmented supply in the industrial Internet field and the global optimization needs of industrial enterprises is the biggest pain point of the current industrial Internet, and the containerized platform of multi-tenant, subscription, and micro-service architecture can achieve fragmented integration to form the industry. The driving force for the rapid growth of Internet platforms.
Seeing the growth prospects of industrial Internet platforms, traditional industrial companies and Internet giants have entered the game. The product advantage of traditional industrial enterprises lies in their relatively solid industrial foundation. The root cloud created by the new “unicorn” in the field of industrial interconnection is representative. Similar products include COSMOPlat developed by Haier and Aerospace Cloud Network Research and Development INDICS and Hanyun developed by XCMG Information; the product advantage of the Internet giant lies in its relatively complete IT infrastructure, with Alibaba supET and Huawei’s FusionPlant as the best.
In the face of competitors with inherent advantages, Lingxi IOT focuses on differentiation strategy. Wanneng believes that there are not many traditional industrial enterprises that can independently incubate industrial Internet platforms. If small and medium-sized enterprises want to achieve digital transformation, they still have to rely on external forces. This is the opportunity for Lingxi IOT. Compared with Internet giants such as Ali, Wanneng believes that Lingxi IOT understands the industrial site better. Lingxi’s team has more than ten years of industrial site management and operation experience and more than 400 implementation cases. Therefore, Lingxi’s products are used in application scenarios. There is a first-mover advantage in landing; at the same time, Lingxi IOT and Alibaba and other giants also have different advantages in the technology of cloud network integration. The advantage of Internet companies such as Ali lies in the integration of the central cloud technology of the core network. The technology is deployed on the end side of the RAN access network.
Following the shortage of 8-inch wafer capacity and price increases in October 2020, the entire semiconductor industry chain ushered in a price increase. The Industrial Internet requires a large number of chips. Talking about the impact of chip prices, Wanneng said, “Appliers are not very sensitive to changes in chip prices because of the high gross profit margin. However, the shortage of production capacity is still a problem, and Lingxi IOT’s response is Strengthen the stock of key chips and core modules, and 5G products have achieved compatibility with Huawei and Qualcomm chips.”