On October 29, major news came out from China’s domestic industrial sensor sector — Shenzhen Wance Technology Co., Ltd. (Wance Technology) officially announced the completion of its strategic financing round, with Xiaomi Industrial Investment as the investor. This marks another investment move by Xiaomi in the sensor track, further boosting the domestic independent development of industrial sensors.
Driven by the industrial boom in automobiles, humanoid robots and intelligent manufacturing, sensors serve as the core cornerstone of the perception layer and have become a key sector for Xiaomi’s industrial layout. A review of its investment track record shows that Xiaomi-affiliated capital has already made extensive investments across the sensor industry. It has backed dozens of sensor-related enterprises including Yaole Technology, Junrou Technology, Weitai Robotics, Hengmai Microfluidics, Tianjin Yike, Kunwei Technology, Bingling Intelligence and Yuanxin Core. These investments cover multiple technical routes such as flexible sensing, tactile sensing, force sensing, vision sensing, MEMS, industrial perception and automotive-grade sensing. Continuous investment not only fills gaps in upstream core components for Xiaomi’s intelligent manufacturing, robot and automotive industrial chains, but also captures opportunities brought by domestic substitution of sensors. The introduction of Xiaomi Industrial Investment in Wance Technology’s Series B financing is the latest step in this strategy.
Since its angel round, Wance Technology has completed multiple financing rounds including Pre-A, A and A+. It has received sustained backing from investors such as Linear Capital, Co-win Ventures, Puhua Capital and Fengyuan Capital. The participation of Xiaomi Industrial Investment will bring industrial resources to support its industrialization and market expansion.
Industrial safety sensors act as the lifeline that guarantees production safety and operational efficiency. For a long time, this market has been dominated by overseas giants including SICK, Omron and Keyence. Domestic manufacturers that export products often have to rely on high-priced imported compliant sensors. As Industry 4.0 shifts from prioritizing efficiency to balancing quality and efficiency, paired with improvements in domestic work safety regulations, market demand is growing rapidly. The domestic industrial safety sensor market is expected to reach 20 billion RMB by 2030, leaving huge room for domestic substitution.
Targeting this market gap, Wance Technology’s core team boasts R&D experience from global leading enterprises. At the product design stage, it complies with stringent international safety standards including ISO 13849, IEC 61508 and UL 61496, and carries out redundant design and reliability verification. Its products have obtained overseas authoritative certifications such as CE and NRTL. Meanwhile, the company deeply participates in standards development. It is an expert member of ISO/TC199 and the deputy secretary-general unit of SAC/TC208 (National Safety Control Standardization Technical Committee). It has led or participated in releasing 9 industrial safety standards. It delivers integrated capabilities covering standardized products, safety solutions and consulting services, and provides full-chain services for manufacturing factories and equipment suppliers, ranging from risk assessment and safety design to acceptance certification.
At present, Wance Technology has built a full product portfolio covering three major fields: industrial safety, precision measurement and general sensing. Its lineup includes stereoscopic safety sensors, safety light curtains, 3D structured-light cameras, spectral confocal displacement sensors, photoelectric sensors and proximity sensors, catering to diverse industrial scenarios.
Among its offerings, the LT series of stereoscopic safety sensors, independently developed by Wance Technology featuring integrated AI+3D+safety functions, stands out. Integrating sensing hardware and edge AI algorithms, the product addresses the poor flexibility of traditional safety protection solutions. It has been deployed in nearly 1,000 application scenarios across automotive manufacturing, new energy batteries, 3C, semiconductors and embodied robots, striking an ideal balance between safety and productivity.
Supported by its product strengths, Wance Technology has entered the supply chains of top manufacturers such as Foxconn, Luxshare Precision, BYD and Han’s Laser. Its business covers multiple sectors. The company has served more than 1,000 customers in total, with cumulative sensor shipments exceeding 1 million sets. Its products are delivered to over 20 countries and regions. Its revenue in 2026 is expected to surge by over 200% year-on-year, reflecting strong growth momentum.
The investment from Xiaomi Industrial Investment brings not only abundant capital, but also powerful industrial synergy. Amid the wave of domestic substitution, Wance Technology, as a rising dark horse, is reshaping the landscape of industrial safety sensors.