# Zhejiang EVTECH Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zhejiang-evtech-co

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Huzhou, China
- Website: www.zjevt.com
- Total disclosed funding: $62M
- Latest round: Series D (Jan 12, 2022)
- Investors on record: 10

## About

Founded in 2011 and based in Huzhou, China, Zhejiang EVTECH Co., Ltd. operates as a manufacturing company that focuses on the development and production of high-voltage power supply systems for new energy vehicles. The company cooperated with GAC Group, NIO, BYD, and other enterprises. It was recognized as the National High-tech Enterprise. Ningchuan Li, the company's CEO, used to serve as the CEO of Hualong Instruments. The company has R&D centers in Hangzhou and Xi'an. It acquired certifications such as CNAS certification, ISO 27001, ISO 45001, etc. In January 2022, the company raised a series D funding for USD 47 million. It established a branch office in 2023. In September 2024, Zhejiang EVTECH Co., Ltd. was listed on the Shenzhen Stock Exchange.

Zhejiang EVTECH Co., Ltd. is mainly engaged in the research, development, production, and sales of high-voltage power supply systems for new energy vehicles. Its products can be categorized into on-board high-voltage power supply systems and non-on-board high-voltage power supply systems. On-board high-voltage power supply systems include on-board chargers (OBCs), on-board DC/DC converters, etc. Products have served enterprise clients including Renault, Stellantis, Xiaomi, XPENG MOTORS, etc.

The company generates revenue by selling high-voltage power supply systems for new energy vehicles.

The company will use the IPO funding for the intelligent production and manufacturing of core components for new energy vehicles, the construction of a research and development center, and the replenishment of working capital.

## Funding rounds

- Series D, Jan 12, 2022, $47M — Hongdao Capital, Huaqiang Capital, Xiaomi Ventures
- Series D, Dec 9, 2020, $15M — Huaqiang Capital
- Series B, Nov 17, 2017 — NIO Capital
- Series A, Nov 30, 2015 — Gongneng Rixin Private Equity Fund Management, GZS Capital Management, First Capital Securities, Changgao Electric Group Co.,Ltd, Shanghai Xingzheng Asset Management
- Series A, Jun 21, 2013 — DiJoy Venture Capital

## Investors

- DiJoy Venture Capital (https://capitalatlas.ai/funds/dijoy-venture-capital) — Series A
- Gongneng Rixin Private Equity Fund Management (https://capitalatlas.ai/funds/gongneng-rixin-private-equity-fund-management) — Series A
- GZS Capital Management (https://capitalatlas.ai/funds/gzs-capital-management) — Series A
- First Capital Securities — Series A
- Changgao Electric Group Co.,Ltd — Series A
- Shanghai Xingzheng Asset Management — Series A
- NIO Capital (https://capitalatlas.ai/funds/nio-capital) — Series B
- Huaqiang Capital (https://capitalatlas.ai/funds/huaqiang-capital) — Series D
- Hongdao Capital (https://capitalatlas.ai/funds/hongdao-capital) — Series D
- Xiaomi Ventures (https://capitalatlas.ai/funds/xiaomi-ventures) — Series D