NEV DC Contactor Provider Weifa Technology Bags Tens of Mns of CNY from Series A Financing

Automotive Author: Wenqing Zou Editor: Ziying Wu Nov 23, 2022 04:16 PM (GMT+8)

Recently, NEV high voltage DC contactor Weifa Technology closed A round of financing worth tens of millions of CNY, which will be used for product R&D, mass production and market expansion.

Charging pile

Recently, high voltage safety product provider Weifa Electronic Technology (Changzhou) Co., LTD (hereinafter referred to as Weifa Technology) (Chinese: 维发科技) completed the A round of financing amounting to tens of millions of CNY, which was co-led by Hubei Xiaomi Changjiang Industry Fund Partnership (Chinese: 湖北小米长江产业投资) and Walden International (Chinese: 华登国际), followed by Changzhou Gaoxin Investment (Chinese: 常州高新投) and Changzhou Tianning Industry Fund (Chinese: 常州天宁产业基金). Guangzhi Capital (Chinese: 光智资本) served as the exclusive financial advisor. The fund will be used for product R&D, mass production and market expansion.

Weifa Technology, founded in 2020 and based in Changzhou city, is a new energy vehicle (NEV) high voltage safety product developer and supplier focusing on providing high voltage direct current (DC) contactors, high voltage distribution modules and sensors.

The company’s primary product, high voltage DC contactor, is the circuit switch with a protection function between NEV and the charging pile, which also can be applicated in other new energy scenarios, such as photovoltaic, energy charging and battery swapping.

With this fund, Weifa Technology will increase investment in research, providing safer and more reliable new energy high-voltage safety products.