We at EqualOcean tracked the major funding rounds or industry events that took place in China’s automotive market in December 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.
On December 5, Yipeng Energy (Chinese: 亿鹏能源) announced that the company accomplished a new round of financing of CNY 180 million (USD 26 million), co-led by Yingke Capital (Chinese: 盈科资本) and Zibo Economic Development Zone Industrial Fund (Chinese: 淄博经开区产业基金). The funds raised will be primarily used for the company's manufacturing base construction in Zibo Economic Development Zone and further expansion of Yipeng Energy's sales scope.
Recently, Keyking Recycling (Chinese: 金凯循环) announced that it successfully raised hundreds of millions of CNY from its B-round financing, co-led by a strategic direct investment fund backed by SAIC (Chinese: 上汽集团), SAIC Capital (Chinese: 尚颀资本) and Hengxu Capital (Chinese: 恒旭资本). Other investment agencies included Wanxiang A123 (Chinese: 万向一二三), Fortune Capital (Chinese: 达晨财智), Hunan Shengli Investment (Chinese: 盛力投资) and many more institutional investors. The funds raised will be primarily used for the company's establishment of new product lines and R&D, to further upgrade products and expand Keyking Recyling's production capacity.
On December 15, Jingneng Microelectronics (Chinese: 晶能微电子) announced that it successfully completed its pre-A round of financing without specifying the amount raised. This investment was led by Walden International (Chinese: 华登国际) and followed by Vision Knight Capital (Chinese: 嘉御资本), Gaorong Capital (Chinese: 高榕资本) and Volfone (Chinese: 沃丰实业). The funds raised will be primarily used for the R&D of power semiconductor products, construction of product lines and hiring of Jingneng's technical team.
On December 1, comprehensive lithium battery operation service Anhui Chengmandian Energy Technology Co., LTD (hereinafter referred to as Chengmandian) (Chinese: 城满电) announced the completion of its A round financing amounting to CNY 100 million (USD 14 million), which was invested by Yingke Innovation Asset Management (Chinese: 盈科资本) and government fund, namely Zibo Economy Development Industrial Fund (Chinese: 淄博市经开区产业基金).The fund will be used for product R&D, technology iteration and market expansion, continuously developing and promoting the application of lithium battery operation mode.
On December 2, PhiGent Robotics (Chinese: 鉴智机器人) announced the completion of its A+ round of financing amounting to tens of millions of USD, which was led by Xianghe Capital (Chinese: 襄禾资本), followed by its existing equity-holder INCE Capital (Chinese: 渶策资本). The fund will be used for product R&D, talent development and market expansion.
Recently, Fortsense (Chinese: 阜时科技) announced the completion of its C round of financing exceeding CNY 100 million (USD 14 million), which was led by Chengdu Science and Technology Innovation Investment Group (Chinese: 成都科创投集团). Other investors include BAIC Capital (Chinese: 北汽产投), Hui Capital (Chinese:惠友资本), Shenzhen Major Industry Investment Group (Chinese: 深圳市重大产业投资集团), Shenzhen Jiufite Private Equity Investment Management (Chinese:玖菲特), Zhuhai Hi-Tech Venture Capital Management (Chinese: 珠海高科创业投资管理), Suzhou Intelligent Vehicle Networking Industrial Investment (Chinese: 苏州智能车联网产投) and Shanghai SIIC Fund Management (Chinese: 上海国际创投). The fund will be mainly used for the product R&D of LiDAR core chips.
Recently, destination charger provider and operator HooEnergy (Chinese: 汇充电) announced that it has gained a cumulative financing of CNY 240 million (USD 33.6 million) this year, including equity financing from Haier Capital (Chinese: 海尔资本) and Zhishu Private Equity Investment (Chinese: 智数资本), as well as debt financing from Jiangsu Bank (Chinese: 江苏银行) and Industrial Bank (Chinese: 兴业银行). The funds raised will be used to support the urban infrastructure construction, business layout and market expansion.
On December 16, autonomous driving solutions supplier iHorseai (Chinese: 流马锐驰) completed its A round of financing amounting to CNY 100 million (USD 14 million), which was led by the funder in the field of crucial technology, namely Beijing Zhongguancun Development Frontier Enterprise Investment Fund (Chinese: 中关村发展前沿基金). The fund will be primarily used for product R&D and mass production of high-level (above L2) intelligent driving algorithms and systems.
On December 13, high-definition (HD) map service supplier Kuandeng Technology (Chinese: 宽凳科技) announced the completion of its B1 round of financing exceeding CNY 100 million (USD 14 million), which was led by Beijing ChiFortune Investment Management (Chinese: 紫峰资本) and followed by multiple institution investors, including strategic funding from Deqing County Government (Chinese: 德清县政府). The fund will be used for product R&D and market expansion, facilitating sustainable development of HD map.
On December 7, NEV electric compressor provider Hunan CBET New Energy Technology Co., LTD (hereinafter referred to as CBET) (Chinese: 贝特新能源) announced the completion of its strategic round of financing worth tens of millions of CNY, which was invested by Shenzhen Chenfeng Private Equity Fund Management (Chinese: 深圳辰峰私募股权基金管理有限公司). The fund will be used for new product R&D and market expansion.
On December 5, auto-grade system on chip (SoC) provider Arkmicro Technologies (Shenzhen) Co., Ltd. (Hereinafter referred to as Arkmicro) (Chinese: 开阳电子) announced the completion of its D round of financing exceeding CNY 100 million. The investors include (Chinese: 盈富泰克) and Chinese: 杉杉股份). The fund will be used for product R&D, capacity building and market expansion, further strengthening the company's product and research advantages and also promoting the company's development in auto chips.
On December 9, autonomous chip provider Huixi Zhineng (Chinese: 辉羲智能) closed its angel round of financing exceeding USD 50 million, which was led by Xiaomi (Chinese: 小米), followed by China-ICV Investment (Chinese: 国汽投资), Cathay Capital (Chinese: 凯辉基金), MiraclePlus(Chinese: 奇绩创坛) and GSR Ventures (Chinese: 金沙江创投). Additionally, the project is valued at USD 200 million.
In December, Genesys Microelectronics (Shanghai) Co., Ltd. (Chinese: 复睿微电子) (hereinafter referred to as Genesys Microelectronics) announced its completion of angel round financing of hundreds of millions of CNY, led by CICC Capital (Chinese: 中金资本) and Shanghai Baoding Investment Management (Chinese: 宝鼎投资) and followed by Ondine Capital (Chinese: 活水资本), Anhui Zhongchen Investment Group (Chinese: 安徽中辰投资集团) and more. The funds raised will be used for the company's talent acquisition in various R&D centers, procurement and market expansion, to promote the commercial landing of numerous EV cockpit and ADAS chip projects.
In December, Inventchip Technology Co.Ltd. (Chinese: 瞻芯电子) (hereinafter referred to as Inventchip) announced its completion of a pre-B round financing of hundreds of millions of CNY. This investment was led by SAIC Motor’s strategic direct investment fund and Shangqi Capital (Chinese: 尚颀资本), with Sungrow Power Supply (Chinese: 阳光电源), Huaqiang Venture Capital (Chinese: 华强创投), and others joining the round, along with existing investor Rockets Capital (Chinese: 星航资本). The funds raised will be primarily used for future capacity expansion, operations and R&D of the firm’s SiC wafer plant in Yiwu, Zhejiang.
In December, Mic-power (Chinese: 微电新能源) announced via its official WeChat account that the company successfuly raised funds from a B-round financing led by CITIC Goldstone (Chinese: 中信金石). The investment will be used for R&D and business expansion for Mic-power. As a technology-driven company striving to provide the world’s most advanced rechargeable batteries, Mic-power is a leading solutions provider of small lithium polymer rechargeable batteries used in smart wearable and TWS-class audio devices.