# Formal Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/formal-technology

- Industry: Software
- Headquarters: Shanghai, China
- Website: www.formal-tech.com
- Total disclosed funding: $14M
- Latest round: Series A (Aug 28, 2023)
- Investors on record: 3

## About

Based in Shanghai, China and founded in 2015, Shanghai Fenglei Information Technology Co., Ltd., trading under the name Formal Technology, provides industrial control infrastructure solutions for the aerospace, rail transit, and automotive sectors. The company was incubated by the National Trusted Embedded Software Engineering Technology Research Center. The founding team maintains over a decade of experience in industrial software development, establishing cooperative relationships with major enterprises such as AVIC and China Electronics. In March 2026, the firm closed a round of venture funding from China Development Bank Capital, Chengdu Times Innovation Growth No.1 Technology Partnership, Shenzhen Capital Real Estate Fund, CITIC Trust PE and GL Ventures.

The company's self-developed products include SMAVE and ACEPHERE. SMAVE series of products for safe stakeholder embedded system software with model-based graphical embedded software development, processor instruction set and board system simulation and analysis, AI-based adversarial learning network testing, and other functions. ACEPHERE has the function of development and runtime environment, motion control, and HMI (Human Machine Interface) design.

The company generates revenue from B2B contracts through the sale of industrial control software suites, embedded system development environments, and modular hardware platforms.

## Funding rounds

- Series A, Aug 28, 2023, $14M — CDH Baifu Capital, Shanghai Tonggao Investment Management Co., LTD, GL Ventures

## Investors

- CDH Baifu Capital (https://capitalatlas.ai/funds/cdh-baifu-capital) — Series A
- Shanghai Tonggao Investment Management Co., LTD — Series A
- GL Ventures (https://capitalatlas.ai/funds/gl-ventures) — Series A