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Transn |
US$6,500,000 |
Private Placement
Financial Advisor
June 2007 |
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Company Description
Kingpro Group Limited (¡°Transn¡±) is a leading language translation service provider, which innovatively combines translation process management, IT technology, Internet collaboration, translator workforce management and language knowledge-based library accumulation. The Company was established in 2005, and it currently employs over 100 people.
Situation
Transn initially needed seed capital to develop its product and build the core team. Upon finishing the product development, Transn needed capital to launch its services, expand from the auto industry to other sectors, and execute strategic acquisitions. The Transn business model was new to the local market, therefore not well understood by investors.
Entrepreneur Profile
Mr. Henry He, CEO of Kingpro, was the founder and President of Sunway Technology Development Co. Ltd., which listed on the Hong Kong GEM in January 2004. He planned and organized the development of Intelligent Chinese Language translation software, Eastern Express, and the first Computer Adaptive Test - YaxinCAT. Mr. He received his master¡¯s degree in Solid Electronics from Huazhong University of Science and Technology in 1995.
China Renaissance Solution
China Renaissance led and arranged the angel investment in 2006. Twelve months later it launched and successfully closed the $6.5mn Series A investment from CID Group and Chengwei Ventures. We targeted investors with a strong interest and in-depth understanding of local market needs and the convergence of IT and traditional industries were targeted.
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