EV powertrain control systems startup Leadrive Technology (Shanghai) Co Ltd has secured 150 million yuan ($22 million) in a Series B round led by Legend Capital, an investment arm of Legend Holdings.
Chinese technology giant Lenovo Group’s Lenovo Capital, state-owned Shanghai International Group’s sub-fund Shanghai Innovation Fund, and Dongqing Cai, the founder of SoftBank’s SB Energy-backed energy service internet platform Aulton New Energy Automotive Technology, joined the round, the company posted on WeChat.
Founded by Dr. Jie Shen in Shanghai, Leadrive has a manufacturing base in Liuzhou, besides a business development and R&D centre in Germany.
The startup will deploy the proceeds to enhance the mass production of power components, as well as to facilitate the development of next-generation silicon carbide technology and for marketing expansion.
Leadrive has previously closed three rounds of funding from ZJ Venture, Topping Capital, Real Harmony Capital, Side Investment, Woying Capital and South China Venture Capital.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on August 14-17, 2020.
