Pinnacle Microwave snaps almost $30 million in a Series B round, while Hui Capital led Surestar Technology’s $26-million funding round. Keda New Energy Technology also secured $111 million in a Series B round.
Pinnacle Microwave snaps almost $30m in Series B
Pinnacle Microwave, which develops advanced radio-frequency integrated circuits (RFICs) and chips for 4G and 5G applications, has bagged 200 million yuan ($29.6 million) in a Series B round.
Chengdu Science and Technology Innovation Investment Group, Chongning Capital Management, Sichuan Academian Fund, Dongfang Electric Investment Management, and Desheng Capital joined the round, according to an announcement on Monday.
The Chengdu-based firm will use the proceeds to upgrade its products as well as in R&D, the firm said.
Founded in March 2018, the firm previously snapped a Series A round in 2019 joined by Ganzhan Investment, CAS Star, Sichuan Innovation Development Investment Management, and Envision Capital.
Hui Capital leads Surestar’s $26m funding round
Beijing-based LiDAR supplier Surestar Technology has snapped 180 million yuan in a funding round led by Hui Capital, a VC firm founded by Yang Longzhong, one of BYD’s founders in 2013, the firm announced on Saturday.
The round, participated by Guolian Tongshuo and Hongsong Capital, will help to scale up the production and application of light detection and ranging (LiDAR) products, the firm said.
Since its inception in 2005, SureStar launched the first automotive LiDAR in China in May 2016. The firm has so far supplied its navigation and mapping LiDAR products to clients in Europe, North America, South America, Australia, Africa, and other parts of Asia, the firm claims.
Besides its Beijing headquarters, the firm has a production facility in Suzhou, an integration and application centre in Hefei, as well as a subsidiary based in the US.
Keda New Energy secures $111m in Series B round
Keda New Energy Technology, a subsidiary of Shanghai-listed Keda Industrial Group, has notched 750 million yuan ($111 million) in a Series B round joined by Fenghe Capital and Capital Development Investment Fund, the firm announced on January 20.
Founded in October 2017, Fujian-based Keda New Energy Technology, a manufacturer of anode materials used in lithium-ion batteries, will use the fresh capital to expand its manufacturing capability and production line of anode materials, according to the release.
Together with the firm’s factory in the city of Ma’anshan, the firm can reach a production capability of 20,000 tonnes of artificial graphite products per year, under the first phase of plant construction, according to Keda Industrial Group’s interim report in 2022.
The firm is currently constructing its production lines to prepare for the second phase of plant construction that aims to bring the production capacity of artificial graphite products to 50,000 tonnes per year, per the release.