On December 13, the signing ceremony of financing agreements for CZ XU Technology Co., Ltd. was held in China-Israel Changzhou Innovation Park (CICP).

CZ XU Technology Co., Ltd. is the park’s first tech company to receive investment from private corporations.

At the ceremony, the company signed financing agreements with Qitai Capital, Changzhou Science & Education Town Investment Group, and Jiangsu Wujin National Economic Investment Development Co., Ltd.

Founded in 2018, CZ XU Technology is a leading domestic supplier of drone parachutes. This year, it has signed a cooperation agreement with the Israel-based Apco Aviation Ltd. to conduct research and development in high-performance drone parachute systems and expand international businesses.