Funding round
Farizon Auto Series A
Farizon Auto, which works in new energy commercial vehicle manufacturing in Hangzhou, raised $600M in a Series A round announced on 20 Jul 2023, led by Boyu Capital and Yuexiu Industrial Fund. 6 firms took part.
$600M
Amount raised
Not disclosed
Post-money valuation
6
Investors
2 leads
Valuation
What this round says about the price
Farizon Auto did not disclose a valuation in this round. It is Farizon Auto's first venture round on record, 7 years after it was founded in 2016. No later venture round is on record for Farizon Auto.
Farizon Auto's funding rounds
This is the only venture round on record for Farizon Auto.
- Series A this round 20 Jul 2023, led by Boyu Capital and Yuexiu Industrial Fund $600M
Investors
Who put money in
Boyu Capital and Yuexiu Industrial Fund led the round with 4 other firms.
Lead investors
- backs 14 venture-backed companies new investor
- Yuexiu Industrial Fund new investor
Also in the round
- United Clean Energy new investor
- Linjiang Industry Group new investor
- Industry Foundation of Xiangtan new investor
- Yinshan Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
11 Series A rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $50M, and this round was 12 times the median. The closest in time, other companies' Series A rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 1 Sep 2023 | $24M | not disclosed | not named |
| Zeekr Automobile Dealers & Manufacturers | 13 Feb 2023 | $750M | $13.00B | not named |
| Automobile Dealers & Manufacturers | 1 Jan 2023 | $62M | not disclosed | not named |
| Forum Mobility Automobile Dealers & Manufacturers | 17 Jan 2023 | $15M | not disclosed | CBRE Investment Management |
| Automobile Dealers & Manufacturers | 22 Jan 2024 | undisclosed | $60M | Tokyo Century Leasing (Singapore) |
| Automobile Dealers & Manufacturers | 27 Feb 2024 | $100M | not disclosed | Meituan |
| Automobile Dealers & Manufacturers | 7 Nov 2022 | $52M | not disclosed | not named |
| Automobile Dealers & Manufacturers | 19 Oct 2022 | $9.0M | $38M | Vertex Ventures SEA and Vertex Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Farizon Auto raise in its Series A round?
Farizon Auto raised $600M in its Series A round, announced in Jul 2023.
Who led Farizon Auto's Series A round?
Boyu Capital and Yuexiu Industrial Fund led it, with United Clean Energy, Linjiang Industry Group, Industry Foundation of Xiangtan and Yinshan Capital.
What was Farizon Auto's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Automobile Dealers & Manufacturers?
11 Series A rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $50M, and this round was 12 times the median.