TMTPOST — Next-generation inductive encoder maker Gongwang Sensing has completed a Series A financing of nearly RMB 100 million, according to an announcement relayed by Wanchuang Investment Bank on Monday. The round was led by NIO Capital, with participation from the Xiamen Tungsten Industry Fund, Sungrow Power Supply industrial fund, Jiayi Venture Capital, Zeran Capital, Dawu Venture Capital and others. Wanchuang Investment Bank served as financial adviser. Proceeds will mainly be used to accelerate large-scale deployment of the company’s inductive encoders in robotics and high-precision manufacturing.