On May 19, 2022, Li Krypton (Guangzhou) Technology Co., Ltd. (hereinafter referred to as Li Krypton Technology) announced the completion of Series A and A+ rounds of financing, with a cumulative financing amount of nearly 200 million yuan. Among them, the A round of financing was jointly led by Yuanjing Capital and the Innovation Workshop, and the Shanghai Free Trade Zone Fund and its Lingang New Area Science and Technology Innovation Fund, and Jiuhe Venture Capital followed the investment; the A+ round of financing was led by Harvest Investment, and a banner joined Following the investment, the old shareholders Yuanjing Capital, Shanghai Free Trade Zone Fund and its Lingang New Area Science and Technology Innovation Fund made additional investment.
The funds raised this time will be mainly used for the construction of the first and second phases of the Likrypton Technology Intelligent Manufacturing Industrialization Base and the investment in the research and development of the next generation of wire-controlled chassis, ensuring the company’s “Hydraulic Decoupled Electronic Brake Booster DHB (Decoupled Hydraulic Brake Booster)” Booster)” and “Integrated Intelligent Brake System IHB (Integrated Hydraulic Brake)” will be delivered on a large scale in 2022.
Hui Zhifeng, founder and CEO of Likr Technology, said: “It’s a great honor for Likrypton’s team and product R&D capabilities to be recognized by car company customers and investors. Likrypton Technology will continue to create better wire-controlled chassis products according to market demand, and synergize with it. Car companies have in-depth cooperation in new fields such as new energy and autonomous driving.”
Founded in 2021, Likrypton Technology is committed to providing car companies and industry partners with a complete solution of safe, efficient and intelligent drive-by-wire chassis. The founding team has been deeply involved in the chassis industry for decades, with profound technical accumulation and unique industry insights, as well as rich industrial resources and strong commercialization capabilities. The core R&D members of Li Krypton Technology are from world-class system suppliers such as Bosch, ZF, Continental, and Huawei. They have rich experience in project mass production, and are a rare team in China that has the ability to develop a complete wire-controlled chassis platform and to implement applications.
Up to now, Likrypton Technology DHB & IHB has been appointed by a number of domestic leading car companies for a total of nine car projects, covering new energy and fuel vehicles. The winter test has been successfully completed in March, and the first car company project will be realized in mid-2022. Mass production.
Liu Yiran, a partner of Yuanjing Capital, said: “In 2021, the demand for new energy vehicles will explode, new forces, and traditional OEM new energy vehicle models will be actively launched, and the brake-by-wire system is the basic demand for the implementation of new energy vehicles and autonomous driving. However, The traditional international giants are insufficiently prepared for the blowout development of China’s new energy vehicles, which has led to the opportunity for local BBW Tier 1 suppliers. The Li Krypton team has the international top Tier 1 R&D, marketing and service experience in the brake industry, and the product entry point is clear, and the company has not been established. It has been recognized and designated by many first-tier OEMs in China in one year. New energy vehicles and intelligent driving are the main investment directions of Yuanjing Capital’s technology track. Yuanjing has previously invested in Lili Auto, Spichi, Qingzhou Zhihang and other service vehicles , In-cabin intelligence and intelligent driving companies, investing in Li Krypton Technology will further complete the ecological layout of Yuanjing smart cars from perception, decision-making to execution.”
Zhou Jiajun, investment director of Innovation Works, said: “There is a structural opportunity for domestic substitution in the chassis field of the new energy vehicle industry. At the same time, several pioneers in the industry have not opened a substantial gap with the new entrants. The founding team of Likrypton Technology has a composite Background advantages, on the one hand, it has independent research and development capabilities in core components; on the other hand, with its past resource accumulation and credit endorsement, it has designated many representative OEM customers in the short term. We believe that Likrypton Technology will become a dark horse in the industry .”
Qiu Xiaochuan, CEO of Harvest Investment, said: “Congratulations to Likr Technology! Harvest Investment is also very happy to lead the A+ round of financing of Likr Technology. Likr Technology is another excellent product in the field of high value-added core technology products for Chinese entrepreneurs to conquer the big market. Representative of science and technology entrepreneurship. Technology is the first, and entrepreneurs are the cornerstone of the value that Harvest Investment adheres to. The leading BBW technology of Li Krypton Technology not only enables China’s independent technology to enter the deep water area of the industry where traditional international giants have an absolute advantage, but also its excellent The confidence and pragmatism of the management and R&D team will also make the company’s future more promising, mass production is imminent, and it is ready to go.
Yu Hui, investment director of the Shanghai Free Trade Zone Fund and its Lingang New Area Science and Technology Innovation Fund, said: “Under the background of the overall development trend and opportunities of vehicle electrification and intelligence, the market share of the local drive-by-wire chassis will increase rapidly, with outstanding technological advantages. It will share dividends with companies with excellent market expansion capabilities, and Likrypton Technology is a typical representative. The fund will give full play to its resource advantages to help Likrypton Technology accelerate the technological innovation and industrialization of wire-controlled chassis.”
Tang Yue, deputy general manager of Yiqi Lihe, said: “Wire-controlled chassis technology is a very important core technology in the new energy and intelligent network revolution of automobiles. The relevant core technologies also have opportunities to break through or even lead the world. Yiqi Lihe is an industrial investment platform jointly established by FAW Group and Lihe Capital, focusing on investment opportunities in the field of new four modernizations of automobiles. We are determined to rely on Tsinghua University The academic-end resources and the industrial-end resources of car companies help high-tech start-ups enter the automotive industry and form an industrial scale. We believe that the Likrypton technology team has a very deep understanding of the market, the product definition closely follows the market demand, and the technology accumulation is profound. We believe that Li Krypton Technology can seize the opportunity of industrial transformation in the field of online control chassis and become a first-class enterprise in China and even the world.”
Wang Xiao, founder of Jiuhe Venture Capital, said: “The industrial change brought about by the electrification of automotive electronics is one of the structural opportunities for China in the next ten years. And new energy-based innovative products, Jiuhe Ventures, as a technology investment fund in the early stage, is honored to participate in it.”
Introduction of investment institutions:
About Yuanjing Capital
Yuanjing Capital was established in 2015 by Mr. Wu Yongming, co-founder of Alibaba. As an investment institution with “industry + investment” genes, it focuses on cutting-edge technology, corporate services, digital medical care, new consumption, cross-border going overseas and other fields. The investment projects include well-known companies such as Ideal Auto, Qingzhou Zhihang, Tuya Smart, Speed, and Jushuitan.
About Innovation Workshop
Innovation Workshop was founded by Dr. Kai-Fu Lee in September 2009. It is deeply involved in artificial intelligence and hard technology, chips/semiconductors, robotics and automation, enterprise service software, medical care and other fields. The investment projects include Horizon, WeRide, Megvii Technology and other autonomous driving and artificial intelligence unicorns.
About Harvest Investments
Harvest Investment adheres to the concept of “technology first, entrepreneurs first”, focusing on the “next generation” digital economy represented by artificial intelligence, big data, cloud computing and the Internet of Things, capturing the explosive growth opportunities of technological transformation, and has invested in scale. Tens of billions of dollars, and investment projects include Jingdong Technology, Horizon, Xingyun, etc.
About the Shanghai Free Trade Zone Fund and its Lingang New Area Science and Technology Innovation Fund
The Shanghai Free Trade Zone Fund is the first national free trade zone themed investment fund approved and established by the China (Shanghai) Pilot Free Trade Zone Management Committee. In the scientific and technological innovation industries such as integrated circuits, it focuses on investing in high-quality enterprises with leading advantages in related sub-sectors.
About Yiqi Lihe
Yiqi Lihe was initiated and established by FAW Group and Lihe Capital (the only industry-university-research-funded enterprise platform affiliated to the Shenzhen Tsinghua University Research Institute). , investment projects include Kaijin New Energy, Guoqi Intelligent Control, Basic Semiconductor, Core Long March, etc.
About Jiuhe Venture Capital
Jiuhe Venture Capital was founded by Wang Xiao, one of the seven swordsmen of Baidu. It is an early-stage investment institution focusing on China’s technology field since its establishment. beast enterprise.
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