(Yicai Global) Nov. 6 -- Ultracraft has secured CNY325 million (USD47 million) in A-round funding as it looks to launch a new 3D printer.

IDG capital led the round with support from Fuji Investment Management and other backers, news site Lieyun reported, citing the Guangzhou-based fundraiser.

Ultracraft, officially Heygears Smart Technology, independently developed a high-precision 3D-printing system and has plans to introduce a new machine in the near future, the report added.

It provides solutions and equipment for hospitals, clinics and technicians and has already established ties with leading enterprises across several Chinese sectors, offering integrated solutions for smart manufacturing.