# Astronergy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/astronergy

- Industry: Renewable Energy
- Headquarters: Hangzhou, China
- Website: http://www.astronergy.com
- Total disclosed funding: $548M
- Latest round: Series C (Jul 25, 2023)
- Investors on record: 8

## About

Astronergy specializes in the manufacturing of high-efficiency solar panels, providing sustainable energy solutions tailored for residential and commercial applications worldwide.Founded in 2006 in Hangzhou, China, Astronergy manufactures solar technology and has executed 3 funding deals. Its most recent funding round was Series C, raising CNY 2000 million on July 25, 2023, attracting notable investors such as BOCOM International Asset Management and CICC Capital.Astronergy is a leading manufacturer of high-efficiency solar panels, focusing on providing sustainable energy solutions to a diverse range of end users. Their core product offerings include photovoltaic (PV) modules designed for both residential and commercial applications, which effectively convert sunlight into usable electricity. The company serves a global client base, including utility companies, construction firms, and individual homeowners, addressing the growing demand for renewable energy sources. Notably, Astronergy has established operations in various international markets, including Germany, Colombia, Australia, and Vietnam, where they have successfully deployed solar projects that range in capacity from small-scale installations to large solar farms. Their products are engineered to enhance energy efficiency and reliability, contributing to the goal of reducing carbon footprints worldwide.Astronergy generates revenue primarily through direct sales of its solar panel products to commercial and residential customers, as well as through partnerships with utility companies and distributors. The transaction structure generally involves B2B relationships, where clients purchase solar modules in bulk for large-scale projects or installations. Additionally, the company may engage in long-term supply agreements to ensure a consistent flow of products to its partners. Revenue is driven by the sales of their flagship solar panel products, which are characterized by advanced technology and high performance in energy conversion. Specific pricing models for these products are structured to reflect their quality and efficiency, catering to a wide range of market segments while supporting the company's commitment to sustainability in energy solutions.In July 2023, Astronergy raised CNY 2000 million in Series C funding from new investors China Life Private Equity Investment Company Limited, China Capital Management, and BOCOM International Asset Management, with participation from returning investors CICC Capital and Sparkedge Capital. This funding is expected to facilitate the launch of new solar panel models aimed at enhancing energy output and efficiency. The company plans to expand its market presence into additional countries in Southeast Asia and South America by 2025, leveraging the recent investment to bolster its capabilities in these regions.

## Funding rounds

- Series C, Jul 25, 2023, $278M — BOCOM International Asset Management, China International Capital Corporation, China Capital Management, China Life Capital, Sparkedge Capital
- Series B, Jan 1, 2023, $219M — China International Capital Corporation, Hillhouse Capital, Sparkedge Capital
- Series A, Mar 9, 2009, $50M — Shanghai Alliance Investment, Cybernaut Investment Group

## Investors

- Shanghai Alliance Investment — Series A
- Cybernaut Investment Group (https://capitalatlas.ai/funds/cybernaut-investment-group) — Series A
- China International Capital Corporation (https://capitalatlas.ai/funds/china-international-capital-corporation) — Series B, Series C
- Hillhouse Capital — Series B
- Sparkedge Capital (https://capitalatlas.ai/funds/sparkedge-capital) — Series B, Series C
- BOCOM International Asset Management (https://capitalatlas.ai/funds/bocom-international-asset-management) — Series C
- China Capital Management (https://capitalatlas.ai/funds/china-capital-management) — Series C
- China Life Capital — Series C