Funding round
byton Series B
byton, which works in electric vehicle manufacturing in Nanjing, raised $500M in a Series B round announced on 11 Jun 2018. 3 firms took part.
$500M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
byton did not disclose a valuation in this round. It is byton's first venture round on record, 2 years after it was founded in 2016. No later venture round is on record for byton.
byton's funding rounds
This is the only venture round on record for byton.
- Series B this round 11 Jun 2018 $500M
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- FAW Group new investor
- Tus-Holdings new investor
- Contemporary Amperex Technology new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CARSOME Automobile Dealers & Manufacturers | 8 Mar 2018 | $19M | not disclosed | Burda Principal Investments |
| Automobile Dealers & Manufacturers | 22 Jan 2019 | $14M | not disclosed | Joe Hirao |
| Automobile Dealers & Manufacturers | 1 Feb 2019 | $23M | not disclosed | Accel |
| Guazi Used Car Automobile Dealers & Manufacturers | 16 Jun 2017 | $400M | not disclosed | HSG |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did byton raise in its Series B round?
byton raised $500M in its Series B round, announced in Jun 2018.
Which investors took part in byton's Series B round?
FAW Group, Tus-Holdings and Contemporary Amperex Technology.
What was byton's valuation at the Series B round?
It was not disclosed.