Hong Kong, Oct 10, 2023 - (ACN Newswire) - On October 9th, Leadrive Technology ("Leadrive") announced the completion of its Series D financing round, with an amount of over RMB600 million. Legend Capital, as an existing shareholder of Leadrive, co-led the financing round to continuously give the company its support.
The Series D financing round was completed in succession to Volvo Car Technology Fund AB's strategic investment in Leadrive for its Series C+ round over the past month. Leadrive has been supported and favored by various investors, including industrial capital, private equity investment, and insurance funds.
The funds raised in this round will be mainly used to supplement operating cash flow, expand production capacity, and develop next-generation power modules, power bricks, and silicon carbide (SiC) technology.
Legend Capital stated: "Currently, the global trend of vehicle electrification is accelerating, leading to a systemic transformation of the global automotive supply chain system and creating favorable opportunities for technology innovators. Leadrive is featured with rare forward-looking R&D capabilities in automotive power semiconductors and motor controllers in China. Additionally, with the long-term accumulation in SiC third-generation power semiconductors, Leadrive’s forward-looking layout will translate into large-scale deliveries within the next 2 to 4 years. We are honored to participate in Leadrive's continuous innovation and pursuit of excellence and believe that with its global vision and layout, Leadrive will fully grasp the opportunities presented by the transformation of the automotive supply chain system and grow into an iconic enterprise with global competitiveness."
Since its establishment in 2017, Leadrive has consistently focused on R&D and breakthroughs in core technologies. It has developed and launched several technology-leading power semiconductor modules and electric drive solution platforms, which have been put into mass production. As of now, Leadrive has achieved designated and mass production on over 30 flagship models of leading passenger vehicle OEMs at home and abroad. The company has also established deep cooperation with leading international OEMs and Tier 1 suppliers, ensuring the high-quality and stable supply of electric control systems and power module products in overseas markets.
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.
For further information, please contact:
Ms. Orianna Ou / Ms. Arina He
Tel: +852 3468 8171
Copyright 2023 ACN Newswire. All rights reserved. www.acnnewswire.com