Trensor(莱顿电子),a Chinese manufacturer of automotive pressure sensors, has recently secured nearly CNY 100 million in Series C funding, according to EqualOcean.
Trensor was established in 2009 and is headquartered in Wuxi, Jiangsu Province. The company specializes in the design and manufacture of pressure sensors and temperature-pressure integrated sensors. They master cutting-edge technology such as thick film, MEMS, thin film, and silicon micro-melting to produce sensors covering the entire range from micro-pressure to ultra-high pressure. They also independently design ASIC chips and hold dozens of domestic and international invention patents.
As one of the few Chinese sensor suppliers to enter the first-tier supply chain system of mainstream global automotive OEMs, Trensor has a large production scale, high degree of automation, and strong process chain integrity, placing it at the forefront of the industry. Over 80% of its products are exported to Europe and North America, making it an important or strategic supplier for world-renowned automotive OEMs and system integrators such as Cummins, Ford, Hanon Systems, and Valeo.
Pressure sensors involve multiple disciplines such as mechanics, electronics, and materials, and have high requirements for production and testing equipment as well as manufacturing processes, resulting in a high technical barrier. They are widely used in the automotive, home appliances, aerospace, and industrial sectors, with a market size of CNY hundreds of billions, and the automotive industry is the single largest market for pressure sensors, with an average of 15 pressure sensors installed on each vehicle. Trensor is in a leading position in signal conditioning chip design, production automation, product precision, and reliability. Their pressure sensors and temperature-pressure integrated sensors have covered almost all systems of traditional and new energy vehicles. In 2017, the US automotive authority magazine "MotorTrend" listed Trensor's SensorCap™ technology as one of the 12 most anticipated future automotive technologies of the year.
Currently, the market for automotive pressure sensors is still dominated by monopolies. Multinational companies such as Sensata from the United States and Bosch from Germany occupy the leading positions in the domestic and foreign automotive pressure sensor markets. Chinese pressure sensor manufacturers are still in the stage of catching up and only a few companies have the ability to conduct product research and development and large-scale production.
In the face of the international trade market's uncertainties and the inevitable upgrading of the domestic industry, localization of automotive sensors has become imminent. In January 2021, Ministry of Industry and Information Technology of China issued the "Action Plan for the Development of Basic Electronic Components Industry (2021-2023)", which proposed "seizing the market opportunities for the transformation of traditional automobiles into new energy and intelligent connected vehicles, focusing on promoting the application of vehicle-grade sensors and other electronic components". Enterprises that have core technology and can achieve large-scale applications of vehicle-grade sensors will usher in good development opportunities.
With many years of research and product upgrading experience, Trensor has actively expanded both domestic and international markets and won recognition from many internationally renowned automotive OEMs and parts enterprises. It is worth mentioning that Trensor anticipated the development trend of the automotive market and completed the research and production line construction of temperature-pressure integrated sensors suitable for new energy vehicle thermal management systems two years ago. They have gradually obtained a series of targeted purchases from several international and domestic top suppliers of new energy vehicle thermal management systems since last year, and some projects have achieved large-scale production, becoming the latest highlight of Trensor's new energy vehicle business growth.
This financing round is led by Blue Lake Capital（蓝湖资本）, and the funds raised will mainly be used for capacity building of Trensor' new factory and further expansion into domestic and overseas markets.
At this critical stage, the ESG2023 "the US Sub-Forum" will be held in Shenzhen on June 2, 2023. EqualOcean will invite the representatives of academic institutions and investment institutions, as well as company leaders, from the International Studies Institute of Fudan University, Sun Yat-sen University, Jinan University School of International Relations, Gaorong Capital, Vision Plus Capital, FreeS Fund, ZWC Partners, Source Code Capital, Niu Technologies, TikTok, SHEIN, NEIWAI, miHoYo, Tuya, MINISO, Dreame, Ecovacs, WYBOTICS, Lifen, and UniUni.EqualOcean analysts will also release the US Report 2023 at the US Sub-Forum, summarizing business opportunities and best practices for expanding into the US market in the new stage. Click the link to apply and scan the QR code below to learn more about ESG2023.