# Powernice

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

- Industry: Electronics
- Headquarters: Ningbo, China
- Website: www.chn-powernice.com
- Latest round: Series B (Jan 11, 2024)
- Investors on record: 6

## About

Established in 2018 and based in Ningbo, China, Powernice operates as a technology company dedicated to providing intelligent actuator products. It established a sales centre in Shenzhen, an overseas factory in Vietnam, a subsidiary in Las Vegas, and an office in Italy. The company acquired certifications such as ISO9001 quality management system certification and acquired more than 85 patents. The founder of the company, Yong Yang has worked in Wuxi Hongba Mechanical and Electrical Equipment Co., Ltd. In January 2024, Powernice closed series B funding led by new investor NewMargin Ventures.

The company mainly provides two sectors of products, which are photovoltaic and solar thermal. The products cover single-point drives and multipoint drives in photovoltaics (mechanical linkage and electrical linkage in multipoint drives).  The products are divided into five series, which are PA Series, PN Series, PT Series, PZ Series, and Solar Tracking Controller. The PZ Series is a damper, its main function is to reduce vibration and dissipate energy. The products can be used in photovoltaic power generation, medical equipment, intelligent equipment, robots and other fields.

The company will promote products for smart medical and military projects next year, and plans to set up branches in Europe and key domestic areas. Currently, the company is building a 50-acre factory in Ningbo, which is expected to be put into production in one year. There is a 5,000-square-meter factory in Hanoi, Vietnam. It is under preparation and will be put into production by February next year.

## Funding rounds

- Series B, Jan 11, 2024 — NewMargin Ventures, Crystal Stream, Norden Venture Capital
- Angel, Jan 1, 2022 — GP Capital, Ningbo Venture Capital Guiding Fund, Ningbo Science and Technology Financial Service Center

## Investors

- GP Capital (https://capitalatlas.ai/funds/gp-capital) — Angel
- Ningbo Venture Capital Guiding Fund — Angel
- Ningbo Science and Technology Financial Service Center — Angel
- NewMargin Ventures (https://capitalatlas.ai/funds/newmargin-ventures) — Series B
- Crystal Stream (https://capitalatlas.ai/funds/crystal-stream) — Series B
- Norden Venture Capital (https://capitalatlas.ai/funds/norden-venture-capital) — Series B