The United States does not give money. The only investor the company can find is the Chinese company.
The New York Times stated that Neurala’s chief executive, Max Versace, stated that Chinese investors are more willing to take risks and are also willing to close deals quickly.
Vances said that in order to prove the company’s software capabilities to the Air Force, Neurala bought a UAV from Best Buy, installed their software, and let it identify Air Force Minister Deborah Lee during a meeting. Deborah Lee James and follow her around.
“The Air Force Minister told us, 'Your technology is fantastic, we should use it everywhere,'†he said. "But no one has followed this up."
Neurala develops software for this TurtleBot robot
Vances said that Neurala finally obtained a minority investment from a Chinese fund called Haiyin Capital. Together with the money, that round of investment raised a total of US$1.2 million. He did not disclose the investment terms of Haiyin Capital.
It is reported that in May 2015, Haiyin Capital also invested an unspecified amount of money into XCOR Aerospace, a commercial space travel company based in Mohave, California. The company manufactures spaceships and engines and cooperates with NASA. XCOR did not respond to requests for comment.
Wang Yinquan, founder of Haiyin Capital, said in an interview with the media that part of the company’s goal is to build China’s industrial capabilities. He also mentioned that it would be difficult to bring space technology to China because the United States has export control.
For the fund's investment project, Wang Yuquan said, “We are striving to move some of our research and development to China to avoid China being only responsible for the low-end production process.†Haiyin Capital did not respond to requests for comment.
In addition to Neurala, the report said that a number of start-up companies, especially start-ups who develop hardware applications such as mobile phones and Snapchat, said that the only investment they can sometimes find is from China. And even a company that is short of money may get a big breakthrough.
It is reported that some of these startups invested by Chinese companies have produced spacecraft rocket engines, autonomous naval vessel sensors, and some have manufactured devices that can print flexible screens for fighter jet cockpits.
For example, Quanergy, which focuses on the development of light detection sensors for use in unmanned vehicles, got a lot of funding last summer, including investment from GP Capital, a Chinese government venture capital fund. A few days later, Quanergy acquired Raytheon’s tracking software, which did not reveal the transaction amount. In addition to various commercial technologies, the company also manufactures sensors for the military's driverless cars and has developed a set of security systems that they call "the most complete and intelligent 3D protection and intrusion detection system."
Quanergy did not respond to requests for comment. Its investors also include foreign automakers and South Korea's Samsung.
The "New York Times" published a report on March 23: "Chinese capital enters sensitive US science and technology fields, causing the Pentagon to be uneasy."
In addition, the report stated that Chinese investors have also made many efforts in another industry - flexible electronic components. The technology, which the National Research Council called the U.S. military’s priority development project, can make electronic components lighter and easier to fix on anything, whether it is a uniform or an aircraft.
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