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JHETECH, a Shanghai-based automotive LED module provider, announced on July 22 that it has completed an A++ round of financing totaling tens of millions of yuan. This round was led by Hubei Xiaomi Changjiang Industrial Investment Fund Management, while Baidu Ventures, the company’s exisiting shareholder, continued to increase its investment.
The fresh capital is mainly intended for investment in capacity expansion projects and liquidity turnover after the expansion of production and sales. In December 2021, JHETECH completed an A+ round of financing worth tens of millions of yuan, led by Baidu Ventures and followed by Shanghai Zhangjiang Technology Venture Capital.
Established in 2011, JHETECH is a solutions provider for automotive LED module systems, mainly engaged in digital and intelligent car lights. The company’s main products are optical modules, electronic control units (ECU), providing customers with a complete set of electronic software and hardware architecture solutions for car lights.
As early as 2018, the company launched a single-chip microcomputer-type chase light mass production product, and it began to develop car light domain controllers. By implanting MCU chip control and integrating CAN/LIN, its smart lamp products have taken shape. These products were adopted by models of XPeng Motors and BYD in 2020.
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Now, JHETECH can accurately control the brightness and darkness of each LED bead by taking software programming as the core and multi-channel control as the control mode, thus forming different car light effects. This product has been installed in the XPeng P7, and has an OTA function. It can download new car light effects remotely through a smartphone app or the car’s console.
The company’s intelligent car light module products have achieved large-scale factory-installed application and mass production, and have already been adopted by more than 20 models of more than 10 car companies such as XPeng, BYD and GAC Aion. It is estimated that the number of vehicles carrying the products reaches one million every year. In addition, the company is developing new intelligent car light products, including high-pixel car light solutions, and auto-grade interactive OLED panels.
Studio 51, an intelligent technology company jointly driven by AI, game engine, and visual effect technology, received almost 100 million yuan ($15 million) in a financing round that was led by Xiaomi.
Recently, Chinese smart home-cleaning appliances maker Dreame completed a 3.6 billion yuan ($563 million) Series-C financing led by the Huaxing Growth Capital and CPE Yuanfeng.
Lotmaxx, a consumer-grade 3D printer company, announced recently its completion of a pre-A round of financing worth tens of millions of yuan, led by GeniLink Capital.
Hoosun, an intelligent device R&D firm, announced on July 12 that it had completed a round D of financing worth several hundred million yuan.
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