Xizhi Technology completes Angel round and Angel+ round of financing of over CNY100 million, with Blue Lake Capital being a co-investor
Summary
As a start-up company equipped with seasoned senior experts in critical processes such as automotive-grade power and battery modules definition/ design, as well as packaging and development/ manufacturing/quality control, Xizhi Technology is dedicated to meeting diverse demands of clients in the smart EV industry by offering highly customizable automotive-grade power and battery modules.Propelled by the implementation of policies in carbon peaking and carbon neutrality, market attention on the smart EV industry is rocketing. In front of Faced with a market of huge potential, Xizhi Technology seizes opportunities to make reforms by planning the expansion of production lines for automotive-grade products on a yearly basis to achieve a gross value of annual output of CNY2 billion for the Suzhou division in the next three years.To be in line with Chinas national strategy of transforming and upgrading the domesticits manufacturing industry, Blue Lake Capital has been deeply involved in the field of smart manufacturing in recent years, and invested in Chaozhuo Aviation Technology in 2020. Its investment portfolio companies in smart manufacturing involves have grown into other industry leaders, including Chaozhuo Aviation Technology (688237.SH), Momenta, Avove Electronic, Cospower, PR Measurement, Raise3D, YHDA (301029.SZ) and EMPOWER.Blue Lake Capital pays continuous attention to early investment opportunities in the field of main components of EVs and in the entire industry chain of self-driving. Automotive-grade power modules manufactured domestically enjoy vast market potential and application scenarios, because of the continuous increase in the penetration of EVs and the regular iteration of the EIC system. We believe Xizhi Technology will grow into a top-ranking company in automotive-grade power and battery products in a few years, said Haitao Wei, partner of Blue Lake Capital.