Recently, Penghu Wuyu (Wuxi) Aerospace Co., Ltd. (hereinafter referred to as "Penghu Wuyu") officially announced the completion of its Series A financing. This round of financing was jointly participated by Nanjing Future Industry Angel Fund, Nanjing Jiangong Liye Industrial Investment Fund, Wuxi Liangxi Sci-Tech Innovation Industry Mother Fund, Wuxi Liangxi Aerospace Venture Capital Fund, CSC Financial Fund, and other institutions. The funds will be mainly used to complete the company’s global layout as a satellite IoT operator and solution provider, as well as to further iterate the R&D and deployment of the 5G IoT NTN satellite IoT system.

Penghu Wuyu was established in September 2021. As a national high-tech enterprise, it focuses on Non-Terrestrial Network (NTN) communication technology in the next-generation communication system. Through its self-developed 5G NTN satellite IoT communication protocol, Penghu Wuyu provides global customers with cost-effective space-ground integrated networks and one-stop solutions, helping to realize the interconnection of all things and the construction of a smart earth.

A relevant person in charge of the First Investment Department of the Venture Capital Group stated: "Penghu Wuyu’s business covers multiple industries such as energy, transportation, agriculture, and environmental monitoring. The Venture Capital Group has invested in and supported the company to establish an East China regional R&D, operation, and sales center in Nanjing. After the company settles in Nanjing, it is believed that Penghu Wuyu will promote the in-depth integration of multiple industries with the information technology industry by providing satellite IoT solutions, drive the digital transformation of traditional industries, and improve the overall efficiency and competitiveness of the industries. As a leading satellite communication enterprise in the industry, Penghu Wuyu’s development in Nanjing will further enhance Nanjing’s reputation and influence in the field of science and technology, build a good city image for Nanjing, and attract more investment and talents."