China automotive industry supplier Kasco raises $72m

Other investors include Yonghua Capital and Shanshan Venture Capital.

Kasco - also known as KH Automotive Technologies - is the first Chinese manufacturer of factory-installed air suspension systems for passenger vehicles.

Last year, it secured a supply contract for Voyah, a premium new energy vehicle brand Voyah under state-owned automaker Dongfeng Motor. Since then, the company has delivered more than 60,000 sets of air suspension systems or air spring assemblies for Voyah and Li Auto. It has also obtained orders from 13 mainstream automakers.

Kasco completed a Pre-A round of CNY100m led by Legend Star and ZGC Group in February 2021. This was followed by a Series A seven months later provided by an industrial investment fund affiliated with Xiaomi Group.

With China's three leading independent electric vehicle (EV) manufacturers - Nio, Li Auto and Xpeng - now listed, private investors have largely switched focus to the broader supply chain as well as spinouts of EV business from traditional automakers.

For example, Farizon Auto, a new energy vehicle (NEV) brand under Geely, recently secured a USD 300m pre-Series A round. This was the first external funding round for Farizon - also known as Yuancheng - which focuses on the commercial vehicle segment.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Early-stage
• Industrials
• China
• Source Code Capital
• Shenzhen Capital Group
• Electric Vehicles