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Leapmotor closes pre-A round financing of RMB 400 million

Nancy From Gasgoo| January 30 , 2018

China auto market news, Leapmotor Sequoia Capital China pre-A round financing

Shanghai (Gasgoo)- Leapmotor announced in recent days that it received investments from four institutions and three investors, after Sequoia Capital China leading the pre-A round financing. Up till now, Leapmotor has completed the pre-A round financing with a total investment of RMB 400 million.

In December, 2017, Leapmotor and Sequoia China signed an investment framework agreement. Since then, it achieved financial support from various institutions and investors and finished pre-A round financing within the next two months.

China auto market news, Leapmotor Sequoia Capital China pre-A round financing

In the pre-A round financing, Leapmotor not only attracted Sequoia, the world-leading venture capital firm, but also achieved support from the core partners of Dahua Technology, a leading solution provider in global video surveillance industry.

The investment of Dahua's core partners will finance the business of battery, electric motor and electric control system, intelligent driving and cloud interconnect for Leapmotor, and will also facilitate the R&D of intelligent electric vehicle area for Leapmotor.

China auto market news, Leapmotor Sequoia Capital China pre-A round financing

Zhu Jiangming, chairman of Leapmotor stated that Leapmotor set up a core technology team and achieved a series of periodical achievements in the past two years. Leapmotor pays more emphasis on strategic synergetic cooperation in financing. In the future, Leapmotor will focus on the development of intelligent electric vehicles and accelerate the research pace in various key technology areas via partnering with several investing institutions, including Sequoia Capital China.

China auto market news, Leapmotor Sequoia Capital China pre-A round financing

Founded in 2015, Leapmotor, a Hangzhou-based Chinese intelligent EV startup, was invested by Dahua Technology and its major founders. Its business range covers model designing, R&D and manufacturing, intelligent driving, electric motor and electric control, development of battery system for intelligent electric vehicles. Besides, Leaspmotor also provides solutions to connected vehicles based on cloud computing.

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