Auto Parts Supplier Atech Automotive Secures C-Round of Financing Exceeding CNY 500 Mn

Recently, Atech Automotive (Wuhu) Co.,Ltd (Chinese: 埃泰克汽车电子) (hereinafter referred to as Atech) announced that it has secured a new C-round of financing exceeding CNY 500 million (USD 68.8 million), three months after the company completed its B-round of financing.

This investment was jointly led by Yangtze River Xiaomi Industry Fund (Chinese: 小米产投), CICC Capital's (Chinese:中金资本) fund, PICC Capital Investment Management (Chinese:人保资本), Anhui Guojiang Future Automotive Industrial Investment Fund (Chinese: 安徽国江基金), and China Fortune-innovation Capital (Chinese: 中芯熙诚). Co-investors include Wingtech Industrial Investment (Chinese: 闻泰产投), Jintong Capital (Chinese: 金通资本), Yunxiu Capital (Chinese: 云岫资本), GigaDevice (Chinese: 兆易创新), NationalChip (Chinese: 国芯科技) and other institutions. Existing shareholders October Capital (Chinese: 十月资本) and Cowin Capital (Chinese: 同创伟业) continued their investments.

Founded in 2002, Atech is a Wuhu-based company focusing on the R&D and sales of automotive electronic products. Atech has successfully developed several key products such as central core domain control, vehicle body domain controller, smart cockpit dashboards, and millimeter-wave radar to establish a complete auto electronic ecosystem chain, while keeping SOA (Service-Oriented Architecture) concept at its core.

With the increasing centralization of automobile architecture, traditional decentralized small controllers are being replaced by body domain controllers with higher functional integration. Atech's vehicle body domain controller can help automakers increase efficiency and cut down costs, conducive to the smart and iterative development of vehicle body functions.

The company has been expanding overseas with its production control and management capabilities. In the future, Atech will continue providing high-quality service and promote domestic tier1 players' awareness in the global market.