Recently, automotive power testing solutions provider Itimotor has secured a C round financing worth hundreds of millions of CNY, which is expected to be used in intelligent driving and hydrogen energy R&D.
On September 7, the Suzhou-based auto tech company Itimotor (Chinese: 英特模) completed its round C equity financing of hundreds of millions of CNY. This round of financing was led by Eastern Bell Capital (Chinese: 钟鼎资本) and followed by Oriza Holdings (Chinese 元禾控股), Suzhou fund (Chinese: 苏州基金) and blue Lake Capital (Chinese: 蓝湖资本).
The funds will mainly be used for research and development of intelligent driving and hydrogen energy, the establishment of hydrogen energy testing centers, capacity expansion of new energy testing centers, as well as team recruitment and product promotion.
Founded in 2014, Itimotor is dedicated to providing comprehensive automotive power testing solutions for cells, engines, motors, electronic control and powertrain, as well as complete vehicles and intelligent driving performance testing. Currently, the company has 30 new energy vehicle test benches, 10 powertrain laboratories and 14 engine laboratories. It provides products and services for many well-known OEMs and auto parts suppliers both in China and abroad, such as Mercedes-Benz, Land Rover, Ford, GM, SAIC, Great Wall, Geely, BYD, NIO and Yutong.