In Nov 2022, CASMT announced that it has completed its B-round financing exceeding CNY 100 million, which will be used in R&D and talent acquisition in NEV's intelligent manufacturing.
In Nov 2022, CAS&MT (Changzhou) Intelligent Manufacturing Co., Ltd (Chinese: 中科摩通) (hereinafter referred to as CASMT) has completed its B-round financing of over CNY 100 million (USD 14.16 million), co-invested by Guolian Venture Capital (Chinese: 国联金控), Mingshan Capital (Chinese: 明善资本), Zhonglou Investment Construction (Chinese: 钟楼金控), Dunxing Venture Capital (Chinese: 敦行资本), Pingling Group (Chinese: 平陵集团) and other investment agencies. This fund will be primarily used for CASMT's R&D and talent acquisition in new energy vehicles' intelligent manufacturing.
Founded in 2019, CASMT is a company specializing in providing solutions for new energy vehicles' smart equipment. Relying on its technical reserve and technological support from the Chinese Academy of Science (CAS), CASMT has been actively seeking solutions towards new energy vehicles' trends of automation, informatization, intelligence. The company has already secured clients including CATL (Chinese: 宁德时代), SVOLT (Chinese: 蜂巢能源), Star Charge (Chinese: 星星充电) and Jiangsu Xinquan Automotive (Chinese: 新泉股份).
Main focus points for CASMT lie in thermal management systems for new energy vehicles and the market for power batteries, electric motors and controllers. The company wishes to become a leading enterprise in this field, create standardized products for clients, and provide them with relatively mature and cost-effective solutions.
In the next three years, automotive electronics and lithium batteries will continuously be noticed and emphasized by CASMT. With further attention paid to energy storage batteries, thermal management systems, domain controller, flat wire motor and solid-state batteries, CASMT aims to reach CNY 1.5 billion sales contract by 2025 and become a listed company with industrial influence and technological innovation capabilities.