# Xinchen New Material

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/xinchen-new-material

- Industry: Materials
- Headquarters: Chuzhou, China
- Website: www.novelcosmos.com.cn
- Total disclosed funding: $14M
- Latest round: Series B (Jan 9, 2024)
- Investors on record: 3

## About

Established in 2021 and based in Chuzhou, China, Xinchen New Material is a new material company that focuses on the production and sales of lithium battery materials. It acquired 20 patents, including 6 invention patents and 14 utility model patents. The company has a base in Dingyuan covering an area of 210 acres. Chiwei Wang, the chairman of the company, graduated from Wuhan University. The company's core technical team consists of 2 doctors and 4 masters, and have working experience in electrolytes, electrolytes and lithium-ion battery companies. In January 2024, it raised approximately CNY 100 million in series B1 funding from new investors Y Capital, Casstar Capital, and Hefei State-Owned Assets Holding.

The company mainly provides lithium battery materials. The products include LiFSI (Lithium bis (fluorosulfonyl) Imide, is a white powder with high lithium-ion conductivity), NaFSI, LiODFB, and LiBOB. The LiFSI are used for new energy electric vehicles. 

The company generates revenue by selling lithium battery additives.

The company will use the series B1 funding for capacity building, product R&D and market development.

## Funding rounds

- Series B, Jan 9, 2024, $14M — 5Y Capital, Casstar Capital, Hefei State-Owned Assets Holding

## Investors

- 5Y Capital (https://capitalatlas.ai/funds/5y-capital) — Series B
- Casstar Capital (https://capitalatlas.ai/funds/casstar-capital) — Series B
- Hefei State-Owned Assets Holding (https://capitalatlas.ai/funds/hefei-state-owned-assets-holding) — Series B