LINCHR pulls in hundreds of millions of yuan in Series C backed by a dozen investors

What's the deal? Chinese new-energy vehicle solutions provider LINCHR has closed a Series C round worth several hundred million yuan. The round drew a group of central state-owned enterprises and industrial investors, with existing backer CNPC Kunlun Capital adding to its stake.

Who's in? New investors include FAW Capital, Chery Capital, Yutong Investment, Genvict Technologies, Tongli Co., Hefei Construction Investment, Zhuge Fund, Fosun Capital, CMB International, Dongzheng Capital and Haihui Investment.

What's the endgame? LINCHR offers one-stop solutions across smart EV charging, onboard chargers, microgrids, intelligent testing and big-data cloud platforms, holding proprietary rights to several core technologies. It plans to use the fresh capital to upgrade those technologies, expand smart production lines, deepen its digital management systems and push into overseas markets.

The signal: The heavy presence of automakers' investment arms — FAW, Chery and Yutong — points to strategic bets on charging infrastructure as China's EV supply chain consolidates around its biggest players.

Read more: ITJUZI