15 Chinese Companies to Watch in May 2022 - Mobility

Automotive Author: Xiangqun Ji Editor: Tao Ni Jun 09, 2022 05:07 PM (GMT+8)

We at EqualOcean tracked the major funding rounds or industry events that took place in China’s automotive space in May 2022. And the following is a list of deals that we have selected for you, based on a number of criteria including the funding amount, the financial backers, and the segments in which the companies operate.

Auto enterprises can only have a future if they study self driving!


Intelligent Driving Institute Ltd. (Chinese: 希迪智驾, CIDI), founded in 2017, a smart automotive technology research and development company, raised CNY 300 million (USD 45 million) in a Series C funding round on May 6. The company received the funds from Chengdu Science&Tech Innovation Investment Co., Ltd. (Chinese: 成都科技创新投资集团有限公司), Xinxing Asset Management Company of China (Chinese: 中国新兴资产), Ruishi Asset Management Co., Ltd (Chinese: 瑞世基金), and Qiandao Asset Management Co., Ltd (乾道基金).

Anzhi Auto

China's intelligent driving supplier Anzhi Auto (Chinese: 安智汽车) closed the Series A+ funding round in early May, collecting tens of millions of CNY from its Series A investor Yinke PE. Founded in 2015 and headquartered in Suzhou, the company is committed to promoting advanced driver assistance systems (ADAS) and self-driving solutions. Its products include 77GHz millimeter wave radar, smart camera and sensor fusion system.

PhiGent Robotics

PhiGent Robotics (Chinese:鉴智机器人), a self-driving solution provider, closed a USD 30 million Series A round of funding on May 18. The funding round was led by Ince Capital, with follow-on investment from existing shareholders including Atypical Ventures, 5Y Capital and GSR Ventures. In addition, strategic investor Horizon Robotics has provided strong support in the commercial implementation. The money will be mainly used for technology development, mass production implementation and wider commercial deployment. Moreover, founded in 2021, PhiGent Robotics focuses on the R&D of autonomous driving solutions with 3D vision as the core


Maple Leaf Car Rental 

Car rental startup Maple Leaf (Chinese: 枫叶租车) completed its pre-Series A round of funding worth tens of millions of CNY in early May, led by New Margin Ventures, followed by Daohe Investment and other state-backed investors. The existing shareholder Junying Investment also participated in the deal. The funds will be used to build the digital operation management system, support brand-building and expand the brand and scale of the fleet. 

Tianjin JustPower Technology

Tianjin JustPower Technology (Chinese: 新氢动力) closed its Series A funding round worth tens of millions of CNY on May 11, with participation by Rongyi Investment and Win Harbor Capital, business registration information portal TianYanCha.com showed. 


Intelligent mining truck manufacturer Easymove (Chinese: 铱钼智能) has closed an angel financing round worth tens of millions of CNY around May 19. The investment was led by Bluerun, followed by Vertex Ventures. The proceeds will be used to develop 200-ton mining trucks, lay out production, test working conditions and build production teams.

Leekr Technology

Guangzhou Leekr Technology (Chinese: 利氪科技), a chassis-by-wire system solution provider in China, completed its Series A and Series A+ financing rounds worth CNY 200 million on May 19. Leekr’s Series A funding round was led by Vision Capital and Sinovation Ventures, with participation by Shanghai Free Trade Zone Equity Fund and its Lingang Xinpian Science and Technology Innovation Fund, and Unity Ventures. 


China's auto parts selling platform CassTime (Chinese: 开思汽配) finished the Series D1 funding round on May 18, receiving funds from some of the previous investors, according to people familiar with the matter.The B2B platform company is also expected to complete the Series D2 round soon. This Shenzhen-headquartered startup has attained several rounds of investment from large consortiums, including Sequoia China Capital, Shunwei Capital, Source Code Capital, Fosun RZ Capital, HUA Partners, H Capital and Greater Bay Area Homeland. 

CTW Eelectronics

Automobile interconnection system supplier CTW Electronics (Chinese: 柯特瓦电子) secured tens of millions of CNY in its Series A financing round on May 24, led by Bondshine Capital, followed by Chipai Capital. The company, founded in 2013, will use the proceeds for recruitment, R&D, and production upgrades, to enhance its competitiveness and expand market share in the automotive industry.


Cheliangliang (Chinese: 车靓靓), a door-to-door car washing platform which was found in 2016, announced the completion of an Angel round of financing worth tens of millions of CNY on May 30, and the company received money from Shenzhen Shouzhan Jintian Technology Co. (Chinese: 首展锦田). 


WINSTECH (Chinese: 铭科精技), a company which specializes in stamping, welding and assembly of precision tooling and parts for automotive industry, raised CNY 526 million (USD 79.2 million) from its listing on the Shenzhen Stock Exchange on May 12. Moreover, the company has 1,600 employees, and four subsidiaries in Hong Kong and Thailand, and 12 subsidiaries all in China.

China South City

China South City Holdings Limited (Chinese: 华南城), one of the leading developers and operators of large-scale integrated logistics and trade centers in China, received CNY 1.64 billion (USD 250 million) in strategic investment from Shenzhen Construction and Development Group Co. Ltd (Chinese: 深圳市特区建设发展集团), who became its major shareholder. 

Xiangyu Group

Xiangyu Group (Chinese: 象屿集团, 600057:SH), founded in 1997, focuses on commodity supply chain, urban development and operation, integrated financial services port and shipping services, raised CNY 3.5 billion (USD 0.53 billion)  in a private placement on May 16. Investors include China Merchants Capital (Chinese: 招商资本), Shangang Port Group (Chinese: 山港金控) and Xiangyu Group.

Weizhen Yanche

Weizhen Yanche (Chinese: 维真验车), which focuses on creating a second-hand car third-party inspection chain service system, completed its Series A financing round worth tens of millions of CNY on May 31. Nanjing Chuangyi Future Investment (Chinese: 南京创熠未来投资中心) and Nanjing Qilin Venture Investment (Chinese: 南京麒麟创业投资有限公司) took part in this investment. The company, founded in 2015, provides testing services for vehicles, which offer users with vehicle inspection and services such as identification of flooded vehicles and accident vehicles. 

Huayu New Materials 

Huayu New Materials Co., Ltd. (Chinese: 华渔新材料), which specializes in carbon-fiber-reinforced polymers (CFRP) products that are used in vehicles, received tens of millions of CNY from an Angel round of financing in early May. The company received the funds from FreesFund and Shanghai Pudong S&T Investment Co., Ltd. Yuanhe Capital served as the financial advisor. Moreover, the proceeds raised from this round will be used to expand the capacity of carbon fiber transmission shafts and apply carbon fiber materials in new energy vehicles.