Funding round
SVOLT Energy Technology Series A
SVOLT Energy Technology, which works in battery product research and development in Changzhou, raised $540M in a Series A round announced on 1 Feb 2021, led by Bank of China Group Investment and SDIC (State Development & Investment Corporation). 13 firms took part. It is SVOLT Energy Technology's first venture round on record.
$540M
Amount raised
3,500,000,000 CNY converted
Not disclosed
Post-money valuation
13
Investors
2 leads
Valuation
What this round says about the price
SVOLT Energy Technology did not disclose a valuation in this round. It is SVOLT Energy Technology's first venture round on record, 3 years after it was founded in 2018. It is 3.3% of the $16.34B SVOLT Energy Technology has raised in the venture rounds on record. SVOLT Energy Technology raised again 5 months later: a Series B round of $15.80B in Jul 2021.
SVOLT Energy Technology's funding rounds
SVOLT Energy Technology has 2 venture rounds on record. This one is highlighted.
- Series A this round 1 Feb 2021, led by Bank of China Group Investment and SDIC (State Development & Investment Corporation) $540M
- Series B 28 Jul 2021, led by Bank of China Group Investment (BOCGI) $15.80B
Investors
Who put money in
Bank of China Group Investment and SDIC (State Development & Investment Corporation) led the round with 11 other firms.
Lead investors
- Bank of China Group Investment new investor
- SDIC (State Development & Investment Corporation) new investor
Also in the round
- Beijing Financial Street Capital Center new investor
- Changzhou Venture Capital Group Co., LTD new investor
- ZJU Jiuzhi Investment Management Co., Ltd new investor
- IDG Capital backs 49 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- HT Capital new investor
- backs 6 venture-backed companies new investor
- Great Wall Holdings Limited new investor
- China Merchants Securities new investor
- backs 5 venture-backed companies new investor
- Kaihui Fund new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
23 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 42 times the median. The closest in time, other companies' Series A rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 25 Feb 2021 | $10M | not disclosed | IQ Capital and Cambridge Enterprise |
| Batteries | 1 Jan 2021 | $27M | not disclosed | not named |
| Batteries | 24 Jan 2021 | $14M | not disclosed | Musashi Seimitsu Industry Co., Ltd. |
| Batteries | 19 May 2021 | $10M | not disclosed | Energy Impact Partners |
| Verkor Batteries | 1 Jul 2021 | $119M | not disclosed | EQT Ventures and Renault Group |
| Batteries | 1 Aug 2021 | $7.0M | not disclosed | Energy Innovation Capital |
| Batteries | 3 Aug 2020 | $6.5M | not disclosed | BGF |
| EnerVenue Batteries | 15 Sep 2021 | $100M | not disclosed | Schlumberger New Energy |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did SVOLT Energy Technology raise in its Series A round?
SVOLT Energy Technology raised $540M in its Series A round, announced in Feb 2021.
Who led SVOLT Energy Technology's Series A round?
Bank of China Group Investment and SDIC (State Development & Investment Corporation) led it, with Beijing Financial Street Capital Center, Changzhou Venture Capital Group Co., LTD, ZJU Jiuzhi Investment Management Co., Ltd, IDG Capital and Cathay Capital and 6 more.
What was SVOLT Energy Technology's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Batteries?
23 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 42 times the median.
Did SVOLT Energy Technology raise again after this round?
Yes: a Series B round in Jul 2021 of $15.80B.