Chinese solid-state battery maker Talent New Energy closed the pre-Series A funding round by receiving hundreds of millions of CNY from an investor group led by CICC Capital and China Merchants Venture.
Tsari Capital, Guoding Capital and existing investor, Lenovo-backed Legend Capital also participated in this round.
The company's last financing was closed three months ago with an undisclosed amount, led by Country Garden Venture Capital.
Talent revealed the money would be used to establish a research center in Beijing, build production lines and hire new employees.
Incorporated in 2018, Talent New Energy specializes in designing lithium solid-state batteries, with experts once working in R&D centers in developed countries. The company is also supported by China's ''Thousand Talents Plan,'' according to its official website.
Compared with the current liquid lithium batteries, the solid ones perform better in thermal control and provide more power for EVs.
Talent's CEO Li Yan said, ''we had spent two years verifying the technology of the solid-state battery supply chain, and we got the desired data from our first semi-solid battery test. Then we collected proceeds from financing and used them to build a production line.''
He also added that the company's first semi-solid battery production line, with a 0.2 GWh designed capacity, will be put into operation in July this year. It will supply products installed on electric vehicles, e-bikes and robotics.
China's Welion , Farasis Energy Gan Zhou Co Ltd (688567:SH) and Gotion High tech Co Ltd (002074:SZ) have also rolled out their solid-state battery solutions.