Sermatec Completes Series C Funding, Expanding Energy Storage Business

Author: EqualOcean News, Muriel Meng Editor: Yiru Qian Oct 10, 2023 04:52 PM (GMT+8)

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Sermatec (Chinese: 上海采日能源科技有限公司), a Shanghai based energy digital operation and energy storage system manufacturing company, recently announced the completion of a C-round financing.

The proceedings will be used to steadily develop the market from both supply side and grid side, while expanding the development and investment of regional user-side energy storage market.

Established in 2017, Sermatec is one of the earliest enterprises engaged in energy storage industry in China, with sufficient industrial experience in energy storage system integration and energy digital operation business. Combined with the operation experience of the power station that has been put into operation, Sermatec provides the whole life cycle operation solutions of the energy storage system.

Sermatec's latest financing round was led by Triniti capital (Chinese: 三行资本) and Foxconn Industrial Internet (Chinese: 工业富联), with follow-on investments from investment institutions such as Guanghui Investment China (Chinese: 广慧投资资本) and supports from the original shareholders such as Cowin Capital (Chinese: 同创伟业), China Merchants Startup (Chinese: 招商启航), Sinovation Ventures (Chinese: 创新工场), and China Three Gorges Corporation (Chinese: 三峡电能).

"Sermatec stands as one of the pioneering domestic enterprises in the realm of energy storage, boasting a wealth of industry expertise in energy storage system integration and digitalized energy operations. Leaning on their operational experience garnered from deployed power plants, Sermatec offers users a comprehensive suite of services encompassing the entire lifecycle of energy storage system management and operation," remarked Triniti capital. "We firmly believe that Sermatec is poised for accelerated growth within the expansive landscape of energy storage, capitalizing on the tailwinds of the national strategic roadmap, and positioning itself as a frontrunner in the industry."