Tencent has also joined DJI-backed agro-technology startup FJ Dynamics. One of China’s largest technology companies, along with other investors, has made hundreds of millions of yuan available to FJ Dynamics.
Back in 2018, Tencent Holdings Limited, one of China’s largest technology companies, promised to put more emphasis on business as the country’s traditional industries increasingly leverage technology to increase productivity. Tencent’s industrial projects range from analyzing health recordings with artificial intelligence to building customer management tools for retailers on the WeChat messenger service.
The latest news is that Tencent has invested in a Chinese startup called FJ Dynamics, which has sold agricultural automation solutions such as intelligent tractors and rice transplants and unmanned vehicles in ports and factories to customers around the world. The exact amount of support is unknown, but Tencent announced this week that it had raised hundreds of millions of yuan for FJ Dynamics along with several investors who did not want to name itself.
Founded in 2017, FJ Dynamics is affiliated with a number of big-name companies in China. According to the registration submissions, the shareholders of FJ Dynamics include the large wire manufacturer DJI and the Chinese state-owned car manufacturer Dongfeng Asset Management. According to some assumptions, the letter combination FJ is already revealing in the name of the startup, which means the syllable “Feng” in the name Dongfeng and the word “Jiang” in the name DJI. This theory is reinforced by the fact that the company’s founder and CEO, Wu Ti, was previously one of DJI’s leading scientists.
In addition, the DJI has recently stepped up its own efforts to develop agricultural drones. FJ Dynamics, registered in China, admits that it has research and development centers in China, Sweden and the Netherlands.