Funding round
Huasun Series C
Huasun, which works in heterojunction solar technology manufacturing in Xuancheng, raised $276M in a Series C round announced on 16 Nov 2023, led by China Green Development Investment Group. 5 firms took part. It is Huasun's second venture round on record; the one before was a Series B in Jan 2023.
$276M
Amount raised
2,000,000,000 CNY converted
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Huasun did not disclose a valuation in this round. It came 10 months after Huasun's Series B. It is 48% of the $571M Huasun has raised in the venture rounds on record. No later venture round is on record for Huasun.
Huasun's funding rounds
Huasun has 2 venture rounds on record. This one is highlighted.
- Series B 29 Jan 2023, led by CNBM (Anhui) New Materials Fund $295M
- Series C this round 16 Nov 2023, led by China Green Development Investment Group $276M
Investors
Who put money in
China Green Development Investment Group led the round with 4 other firms.
Lead investor
- China Green Development Investment Group new investor
Also in the round
- Bank of China Asset Management Co., Ltd. new investor
- China Post Insurance Company Limited new investor
- Originvest new investor
- China Xinxing Asset Management Co., Ltd. new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
The closest in time, other companies' Series C rounds in Solar Energy Company:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Solar Energy Company | 10 Aug 2023 | undisclosed | not disclosed | Cathay Capital |
| Solar Energy Company | 26 Jul 2023 | $280M | not disclosed | not named |
| Solar Energy Company | 27 Jul 2023 | $32M | not disclosed | Impact Fund Denmark and ODS Investment Fund |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Huasun raise in its Series C round?
Huasun raised $276M in its Series C round, announced in Nov 2023.
Who led Huasun's Series C round?
China Green Development Investment Group led it, with Bank of China Asset Management Co., Ltd., China Post Insurance Company Limited, Originvest and China Xinxing Asset Management Co., Ltd..
What was Huasun's valuation at the Series C round?
It was not disclosed.