Shanghai. April 12. INTERFAX-CHINA - Gvitech Technologies Co. Ltd., a three-dimensional (3D) visualization technology developer, received an investment of RMB 60 million ($8.79 million) from two Chinese venture capital firms in its first round financing, the company announced on April 9.
According to the announcement, Shenzhen Fortune Venture Capital Co. Ltd. and Beijing Zhicheng Shengjin Venture Capital Co. Ltd. collectively contributed the investment. No further financial details were disclosed.
A Gvitech representative declined to comment when contacted by Interfax on April 11.
Established in 1998, Gvitech focuses on the development of visualization application software, hardware and by-products, including digital city simulation, graphics computing and large-screen display technologies. The company has operated a 3D digital online virtual globe, map and GIS platform on Diciti.com since June 2008.
Gvitech deploys visualization software and 3D geographic information systems (GIS) solutions in over ten Chinese cities, including Beijing, Shanghai and Guangzhou, in which Gvitech's software is applied toward urban planning and management endeavors.
The firm operates two research and development (R & D) centers - one located in Beijing's Zhongguancun technology hub and the other at Tsinghua University.
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