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Investments

26

Portfolio Exits

2

About Huiyou Capital

Huiyou Capital is based in China.

Huiyou Capital Headquarter Location

Shenzhen, Guangdong,

China

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Latest Huiyou Capital News

Autonomous driving startup Freetech lands USD 100 million Series A

Jul 6, 2021

The company supplies more than 40 automakers with intelligent driving solutions. Autonomous driving startup Freetech secured more than USD 100 million in a Series A round from investors including China Internet Investment Fund, Huiyou Capital, and Dongfeng Bank of Communications. The funds will mainly be used to scale the production of Freetech’s solutions, which encompass vehicle perception and control through the use of cameras, radar, and sensors. Established in 2016, Freetech supplies its intelligent driving products to over 40 original equipment manufacturers (OEMs), including FAW Group, SAIC Motor, Chang’An Automobile, Geely, and Dongfeng Motor Corp. With research and development centers in Hangzhou, Shanghai, Jiaxing, and Huzhou, the company plans to develop new L3 autonomous driving capabilities, in addition to its current L2 and L2+ offerings. “Our flexible L2 autopilot solutions can provide Chinese consumers with a new ‘human-machine co-driving’ experience that is cost effective,” founder Zhang Lin said. The company generated annual revenue to the tune of RMB 150 million (USD 23.2 million) in 2020, and expects a three-fold increase this year, Zhang said. Freetech reached an agreement to supply L3 technologies to an unnamed automaker for vehicles that are set to be released in 2022. Freetech is also operating two L4 self-driving minibuses in Hangzhou at the Canal Asian Games Park on a trial basis. The unmanned minibus project is meant to test the possibility of autonomous driving in closed, low-speed scenarios, Zhang explained. “Autonomous driving is a scenario-based application, and OEMs require suppliers to not only have leading software, hardware, and algorithm technology, but also excellent mass production capabilities. We believe that Freetech, unlike many local suppliers, can fully meet the requirements of local OEMs for autonomous driving,” Yang Longzhong, founder of Huiyou Capital said. China Internet Investment Fund said that backing of Freetech synergizes well with its other investments in the autonomous driving ecosystem. Meanwhile, Dongfeng Motor’s Xiong Jiahong said that Dongfeng and Freetech have established a close relationship and will share strategic resources going forward.

Huiyou Capital Investments

26 Investments

Huiyou Capital has made 26 investments. Their latest investment was in Raysees as part of their Series A - II on October 10, 2021.

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Huiyou Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/7/2021

Series A - II

Raysees

$15.52M

No

5

8/24/2021

Series B

Allsaints Music Group

$60M

Yes

11

7/27/2021

Seed VC - II

Hitronics Technologies

Yes

1

7/21/2021

Seed - II

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$99M

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10

7/5/2021

Series A

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$99M

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10

Date

10/7/2021

8/24/2021

7/27/2021

7/21/2021

7/5/2021

Round

Series A - II

Series B

Seed VC - II

Seed - II

Series A

Company

Raysees

Allsaints Music Group

Hitronics Technologies

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Amount

$15.52M

$60M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

5

11

1

10

10

Huiyou Capital Portfolio Exits

2 Portfolio Exits

Huiyou Capital has 2 portfolio exits. Their latest portfolio exit was CosMX Battery on October 15, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/15/2021

IPO

$991

1

00/00/0000

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$991

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10

Date

10/15/2021

00/00/0000

Exit

IPO

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Companies

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Valuation

$991

$991

Acquirer

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Sources

1

10

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