The power semiconductor industry applied to EV is growing by leaps and bounds, driving technological innovation to acquire competitive advantages.
Leadrive Technology (Chinese: 臻驱科技), a Shanghai based electrification solution provider and electric drive components supplier, just announced the completion of a Series D financing of over CNY 600 million.
Leadrive Technology is equipped with the competitive research and development capability of automotive power semiconductors and motor controllers. In addition, Leadrive Technology has abundant experience in the field of SiC third-generation power semiconductors, which is likely to be transformed into mass delivery in the next 2 to 4 years.
Currently, the wave of automobile electrification is accelerating globally, driving the systematic reform of the global automobile supply chain system and providing promising development opportunities for technological innovators.
"Given Leadrive Technology's strong R&D capabilities and its long-standing expertise in this field, we believe that the Leadrive team, with its global vision and strategic positioning, is well poised to seize the transformational opportunities within the automotive supply chain system, ultimately emerging as a globally competitive benchmark enterprise", stated Legend capital.
Leadrive Technology's latest financing round was spearheaded by Legend capital (Chinese: 君联资本) and Oriza FOFs (Chinese: 元禾辰坤), with additional investments from investment institutions, including C Capital (Chinese: C资本), Shang Capital (Chinese: 新尚资本), Huatai Asset Management (Chinese: 华泰宝利投资), Duncheng Investment (Chinese: 敦成投资), Royal Star (Chinese: 九颂繁星), and Guangdong Alpha (Chinese: 奥飞娱乐).
Previously, Leadrive Technology achieved a successful Series C+ funding round with investment from Volvo Car Technology Fund AB and subsequently, a Series D round. With this, the company has garnered support and recognition from a wide array of investors throughout the year, spanning industrial capital, private equity investments, state-owned investment platforms, and insurance funds.
The financing will be mainly emplyed for cash flow replenishment during the business explosion phase, capacity expansion, and research and development of next-generation power modules, power bricks and silicon carbide technologies.