(Yicai Global) July 26 -- Chinese Industrial Internet of Things startup Sino-Tech Cloud Innovation has secured more than CNY10 million (USD1.47 million) in its Series-A funding.

Proceeds will mainly go to combining artificial intelligence and augmented reality technologies to achieve new applications such as remote and predictive maintenance of equipment, state China News Service reported.

Formed in May 2013, the Beijing-based startup has undergone four financing rounds for a valuation of over CNY100 million.

The company will raise its investment in combined cloud computing and data mining to enhance the reality of AR technology in intelligent fire control, remote monitoring and financial leasing risk control and other fields, it said.

Editor: Ben Armour