Ninghai Hongde raises $14.8M Series A extension for EV materials expansion
What's the deal? Ninghai Hongde New Material Technology has raised US$13.8M (roughly $14.8 million) in a Series A extension round. Shenzhen Leaguer Venture CapitalDealroom has a profile for this one. Try Dealroom → led the round, with Wuxing Industrial Investment GroupDealroom has a profile for this one. Try Dealroom →, Haichuang Funds of FundsDealroom has a profile for this one. Try Dealroom →, Pufeng Venture CapitalDealroom has a profile for this one. Try Dealroom →, and Haibang CapitalDealroom has a profile for this one. Try Dealroom → participating.
What does the company do? Hongde develops, produces, and sells self-lubricating and lightweight products aimed at automotive energy saving and emissions reduction. Its products serve new energy vehicle power, steering, chassis, and oil-and-gas systems, as well as the energy storage and photovoltaic sectors.
What's the endgame? The company says the funding will go mainly toward capacity expansion. It holds four core capabilities: material formulation and production, product design and simulation, mould design and manufacturing, and precision injection and compression moulding.
Who else was involved? Deta CapitalDealroom has a profile for this one. Try Dealroom → served as long-term strategic financial adviser, and Junzheng CapitalDealroom has a profile for this one. Try Dealroom → helped complete the round.
The signal: The investor lineup — led by Leaguer Venture Capital alongside state-backed Deqing Industrial Investment — points to continued capital interest in suppliers feeding China's new energy vehicle and clean energy supply chains.
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