Enpower Successfully Completed its Series A+ Funding Round

Author: Contributor, Sally Shi, Fuller Wang Jun 30, 2022 03:19 PM (GMT+8)

Enpower's news indicates the company's plan for future development. This funding round could also push Enpower to a higher stage and potentially lead the revolution of new energy industry.

Electric car lithium battery pack and power connections

Enpower, Inc. (恩力动力) announced its completion of the Series A+ funding round on around June 30, 2022. In this funding round, Enpower successfully raised more than USD 20 million. The funding round was jointly led by Sequoia China and Richu Captial, followed by GAC Capital, Borun Capital, Tianqi Capital, and Newli Capital. This is also the second consecutive round of Scheme Captial serving as the exclusive financial advisor.

The sign that funded by Sequoia China indicates that the company has huge potential to grow in the future. With the help of Sequoia China, Enpower can resolve some kind of the problems in its growth path. In addition, this funding round is also a symbolic layout of Richu Captial for its existence in the new energy industry chain. With the help of two major capitals in China, Enpower’s future is undeniably brighter. 

This funding round mainly serves to accelerate the industrialization of its solid-state batteries. And the funds will be mainly used for product iteration, market expansion, and production line construction. Dr. Dai Xiang, the founder and chairman of Enpower mentioned that they successfully provided the solution to the core pain points of power batteries at the current stage, such as safety and energy density. Combined with the solutions and excellent overcharge performance, solid-state batteries could provide a better travel experience for new energy vehicles in the future.

 As a company that focuses on solid-state battery innovation, Enpower has made a technical breakthrough toward the next trend of battery. With both technology authorization and R&D experience in the United States and Japan, Enpower has the natural advantage to take the lead in solid-state batteries. Enpower is also very likely to be one of the leads in the new energy revolution.