# U Power

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/u-power

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Shanghai, China
- Website: www.upower.com
- Latest round: Series B (Dec 19, 2024)
- Investors on record: 8

## About

Based in Shanghai, China, and established in 2021, U Power operates as a smart electric car company that focuses on the research and development of electric vehicle chassis. The founder, Peng Li, once served as the general manager of the Horizon Intelligent Driving Division and the vice president of Great Wall. The company has set up R&D centers in Shanghai and Chongqing and a branch office in Silicon Valley.  U Power has established partnerships with companies such as NVIDIA, CoreTech, and Renesas Electronics. In December 2024, U Power closed a series B funding

U Power engages in the research and development of electric vehicle chassis. The company's main product, the UP Super Chassis, is a mass-producible, fully in-line skateboard chassis. U Power has also developed its own high-performance automotive brain, UP HPVC, which is the first open automotive supercomputing platform with flexible computing power. The target customers include vehicle enterprises, travel platforms, life service platforms, and commercial operation spaces.

The company generates revenue by selling electric vehicle chassis.

The company will use the series B funding for the mass production and capacity expansion of Youpao Super VAN.

## Funding rounds

- Series B, Dec 19, 2024 — Hefei State-Owned Assets Holding, Boyuan Capital, Jinlonghu Holding Group
- Series B, May 18, 2023 — ZhenFund, MPC, Cyber Creation Ventures (CCV), Hefei State-Owned Assets Holding, Guangdong Dongchuang Investment Holdings, Huoyan Capital

## Investors

- ZhenFund (https://capitalatlas.ai/funds/zhenfund) — Series B
- MPC — Series B
- Cyber Creation Ventures (CCV) (https://capitalatlas.ai/funds/cyber-creation-ventures-ccv) — Series B
- Hefei State-Owned Assets Holding (https://capitalatlas.ai/funds/hefei-state-owned-assets-holding) — Series B
- Guangdong Dongchuang Investment Holdings — Series B
- Huoyan Capital (https://capitalatlas.ai/funds/huoyan-capital) — Series B
- Boyuan Capital (https://capitalatlas.ai/funds/boyuan-capital) — Series B
- Jinlonghu Holding Group — Series B