Today (August 2), Avita Technology announced that it has completed Series A financing. This round of capital increase was led by the National Green Development Fund Co., Ltd. (hereinafter referred to as the "National Green Development Fund"), with participation from China Merchants Jintai, SDIC Juli, Weihao Innovation (Consortium) of Weir Holdings, CITIC New Future, etc. List of investment institutions looming for capital increase. Avita Technology's existing shareholders, Changan Automobile and Southern Asset Management, also made further investments, conveying their confidence in the long-term development of Avita Technology.
Among the investors in this round, the leading investor, the National Green Development Fund, was jointly initiated and established by the Ministry of Finance, the Ministry of Ecology and Environment and the Shanghai Municipal People's Government. The central finance and the local finance of 11 provinces and cities along the Yangtze River Economic Belt jointly contributed. At the same time, it attracts the participation of social capital, participates in market-oriented operations in the form of a company, actively guides social capital to invest in green development fields in response to market demand, and promotes the development of green industries. The first phase of fundraising reached 88.5 billion yuan.
China Merchants Jintai is a joint-stock company of China Merchants Capital, focusing on investment in forward-looking technology fields such as chips and semiconductors. SDIC Juli was initiated by the State Development and Investment Group Co., Ltd., and its investors include more than 30 local state-owned investment platforms. The current fund management scale exceeds 10 billion yuan, and its investment focuses on the fields of new energy and smart vehicles. Weihao Chuangxin is an industrial investment platform owned by Weil Co., Ltd., a world-renowned leading CMOS (image sensor) chip company, that participates in Cornerstone Investment and focuses on the investment business layout of related industrial chains.
At the same time as the capital increase, Avita Technology will also sign long-term strategic cooperation agreements with a number of new investors in this round on sales network support, guaranteed chip supply, visual image perception, and intelligent cockpit development to further strengthen the industrial chain. Resource advantages. After completing the A round of capital increase, Avita Technology's overall financing scale is nearly 5 billion yuan, with a post-investment valuation of nearly 10 billion yuan. The new round of fundraising will further accelerate Avita's future product development, design and market brand development. Currently, the second new car is being advanced in an orderly manner.
After completing this round of financing, Changan Automobile and CATL remain the first and second largest shareholders of Avita Technology; through the recently signed comprehensive strategic cooperation agreement, the cooperation between Huawei and Avita Technology has also deepened. Following the principle of "risk sharing and benefit sharing", both parties invest optimal resources to create a win-win situation, advance and retreat together, and work together to build high-end smart cars; on the basis of strengthening the CHN cooperation model empowered by Changan Automobile, Huawei, and CATL, Avita Technology's equity structure will be further optimized.
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Editor: Wang Yifei