Windrose Technology bags hundreds of millions of yuan in Series A financing

Shanghai (Gasgoo)- Windrose Technology, a Chinese new energy heavy-duty truck company, announced that it has secured hundreds of millions of yuan in Series A funding.

The fresh funding round was led by FountainVest and Yunqi Partners, with participation from Hefei Innovation Technology Venture Capital Co., Ltd. and existing shareholders such as GSR Ventures and Rokin Logistics Supply Chain Co., Ltd. (“Rongqing”).

Photo credit: Windrose Technology

The funds raised in this round will be used to further drive product R&D, market expansion, and industrial integration, supporting Windrose Technology in introducing the first domestically developed pure electric heavy truck to the Chinese, American, and European markets.

According to the corporate information inquiry platform Qichacha, Windrose Technology has completed three rounds of financing within a span of ten months. In August 2022, the company closed an angel round led by GSR Ventures. In November of the same year, it received a strategic investment from Rongqing.

Windrose Technology is a Chinese supplier of fully self-developed new energy autonomous driving heavy truck solutions. Its products feature new designs in control-by-wire planning, electric powertrain systems, vehicle appearance, and interior, and also include a fully redundant wire-controlled electric chassis designed to meet L4 autonomous driving requirements.

On the software side, the company plans to gradually evolve from assisted driving to autonomous driving based on a new architecture.

According to public information, Windrose Technology's new energy heavy truck products are currently in the testing phase and will begin mass production (SOP) in 2024, simultaneously targeting the Chinese, American, and European markets.