Total amount raised
$1.6 Billions
Latest funding date
02/01/2023
Location
Zeekr has successfully raised significant funding through a Series A round, attracting investment from notable backers such as Guangzhou Yuexiu Industrial Investment Fund and Contemporary Amperex Technology. The company is dedicated to developing and manufacturing premium electric vehicles, positioning itself as a key player in the automotive industry.
Keep reading to explore the intricacies of Zeekr's fundraising journey and the investors backing this innovative platform.
What Is Zeekr?
Zeekr, founded in March 2021, is a prominent player in the electric vehicle industry. Headquartered in Beijing, China, the company was established by An Conghui and Li Shufu. Zeekr operates as a sub-organization of Geely Auto Group and has a workforce of 1001-5000 employees.
Specializing in the development and manufacturing of premium electric vehicles, Zeekr offers a range of models, including the Zeekr 001, Zeekr 009, and Zeekr X. The company is committed to innovation and design, aiming to redefine the electric automobile market globally.
How Much Funding Has Zeekr Raised?
- Series A Funding Round
- Amount Raised: $500M
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds were likely used to support the company's initial growth and development.
- Corporate Round
- Amount Raised: CN¥2B (approx. $300M)
- Date: March 2021
- Lead Investors: Geely, Geely Auto Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish Zeekr as a premium electric vehicle brand under Geely.
- Series A Funding Round
- Amount Raised: $750M
- Date: February 2023
- Lead Investors: Amnon Shashua, Contemporary Amperex Technology, Yuexiu Industrial Fund
- Valuation at Round: $13B
- Motivation Behind the Round: To support technology research and global expansion.
Zeekr has raised a total of $1.55B with a current valuation of $13B.
Key Investors
- Amnon Shashua
- Details: Amnon Shashua is the founder and CEO of Mobileye, a company specializing in autonomous driving technologies and advanced driver-assistance systems (ADAS).
- Investment Focus Areas: Autonomous driving technologies, advanced driver-assistance systems (ADAS), automotive technologies.
- Notable Investments: Mobileye.
- Contemporary Amperex Technology Ltd (CATL)
- Details: CATL is a leading Chinese battery manufacturer known for producing lithium-ion batteries for electric vehicles and energy storage systems. It is also a supplier for Tesla.
- Investment Focus Areas: Lithium-ion batteries, electric vehicles, energy storage systems, renewable energy technologies.
- Notable Investments: Tesla, BMW, Volkswagen.
- Yuexiu Industrial Fund
- Details: Yuexiu Industrial Fund is a state-owned investment fund in China, focusing on industrial investments, particularly in sectors like real estate, finance, and infrastructure.
- Investment Focus Areas: Industrial investments, real estate, finance, infrastructure.
- Notable Investments: Various projects in real estate, infrastructure, and financial services within China.
- Tongshang Fund
- Details: Tongshang Fund is an investment fund likely involved in strategic investments in technology and manufacturing sectors.
- Investment Focus Areas: Technology, manufacturing sectors.
- Notable Investments: Not publicly disclosed.
- Xin’an Intelligent Manufacturing Fund
- Details: Xin’an Intelligent Manufacturing Fund focuses on investments in intelligent manufacturing and related technologies.
- Investment Focus Areas: Intelligent manufacturing, related technologies.
- Notable Investments: Not publicly disclosed.
What's Next for Zeekr?
Zeekr stands at the cusp of significant opportunities, driven by its recent $750 million funding round and a valuation of $13 billion. The company is poised to expand its technology research and global footprint, with plans to enter the European market and launch new models like the Zeekr X SUV. This expansion is bolstered by the growing global demand for electric vehicles and supportive government policies.
Future fundraising opportunities appear promising, with potential for an IPO in the U.S. that could raise over $1 billion. The continued interest from high-profile investors and state-owned funds suggests that Zeekr is well-positioned to secure additional capital to support its ambitious growth plans.
However, Zeekr faces challenges such as intense competition in the EV market, regulatory hurdles in new regions, and supply chain issues. Navigating these obstacles will be crucial for maintaining its momentum and achieving long-term success in the rapidly evolving electric vehicle industry.
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