Funding round
SVOLT Energy Technology Series B
SVOLT Energy Technology, which works in battery product research and development in Changzhou, raised $15.80B in a Series B round announced on 28 Jul 2021, led by Bank of China Group Investment (BOCGI). 14 firms took part. It is SVOLT Energy Technology's second venture round on record; the one before was a Series A in Feb 2021.
$15.80B
Amount raised
102,800,000,000 CNY converted
Not disclosed
Post-money valuation
14
Investors
1 lead
Valuation
What this round says about the price
SVOLT Energy Technology did not disclose a valuation in this round. It came 5 months after SVOLT Energy Technology's Series A. It is 97% of the $16.34B SVOLT Energy Technology has raised in the venture rounds on record. No later venture round is on record for SVOLT Energy Technology.
SVOLT Energy Technology's funding rounds
SVOLT Energy Technology has 2 venture rounds on record. This one is highlighted.
- Series A 1 Feb 2021, led by Bank of China Group Investment and SDIC (State Development & Investment Corporation) $540M
- Series B this round 28 Jul 2021, led by Bank of China Group Investment (BOCGI) $15.80B
Investors
Who put money in
Bank of China Group Investment (BOCGI) led the round with 13 other firms.
Lead investor
- Bank of China Group Investment (BOCGI) new investor
Also in the round
- Sub-funds of National Fund for Technology Transfer and Commercialization new investor
- Country Garden Ventures new investor
- backs 17 venture-backed companies new investor
- CCB Investment new investor
- IDG Capital backs 49 venture-backed companies new investor
- Sany Heavy Industry new investor
- Xiaomi Group new investor
- backs 6 venture-backed companies new investor
- China Construction Bank Investment new investor
- Deep Innovation Investment new investor
- Huaxing Capital new investor
- SDIC new investor
- 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
9 Series B rounds in Batteries within a year either side disclosed an amount; the median was $22M, and this round was 705 times the median. The closest in time, other companies' Series B rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 10 Jun 2021 | $100M | $1.00B | HSG |
| Ascend Elements Batteries | 12 Apr 2021 | $20M | $55M | Orbia Ventures |
| Batteries | 27 Oct 2021 | $15M | not disclosed | not named |
| Batteries | 1 Jan 2021 | $15M | not disclosed | not named |
| Batteries | 14 Feb 2022 | $47M | not disclosed | HydrogenOne Capital Growth plc |
| Batteries | 9 Feb 2022 | $33M | not disclosed | Energy Impact Partners |
| Group14 Batteries | 21 Dec 2020 | $17M | not disclosed | SK Materials |
| Verkor Batteries | 1 Mar 2022 | $22M | not disclosed | Plastic Omnium |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did SVOLT Energy Technology raise in its Series B round?
SVOLT Energy Technology raised $15.80B in its Series B round, announced in Jul 2021.
Who led SVOLT Energy Technology's Series B round?
Bank of China Group Investment (BOCGI) led it, with Sub-funds of National Fund for Technology Transfer and Commercialization, Country Garden Ventures, Shenzhen Capital Group, CCB Investment and IDG Capital and 8 more.
What was SVOLT Energy Technology's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Batteries?
9 Series B rounds in Batteries within a year either side disclosed an amount; the median was $22M, and this round was 705 times the median.