By Gabby Chen

Jingneng Microelectronics (晶能), the chip unit affiliated with automaker Geely, has closed its Pre-A fundraiser without specifying the amount raised, JW Insights reported on December 15.

Headed by venture capital firm Walden International, Vision Knight Capital, Gaorong Capital, and Volfone Enterprises also took part in the financing round, the company said in a statement.

The new funding will be used in the research and development of power semiconductor modules, production, and the hiring of technical staff, the company said.

Founded in 2022 in Hangzhou of southeastern China’s Zhejiang Province, Jingneng Microelectronics focues on automotive-grade IGBT chips and modules, SiC devices, and low- and medium-voltage MOSFETs, supplying markets such as NEVs, electric motorcycles, photovoltaics, and energy storage, said the JW Insights report.

Pan Yunbin, CEO of Jingneng, said that the company has already developed various products such as automotive-grade insulated gate bipolar transistors and SiC devices, adding that many of its products will be installed in vehicles next year.

The IGBTs and SiC power modules are core components for NEVs and the photovoltaic industry, Pan added.

Xu Zhihao, chief executive of Geely, said that all of the investors that took part in the funding round have strategic synergy with Jingneng, adding that the group has positioned itself to serve the NEV sector and has invested in mastering core technologies, JW Insights quoting a Yicai report.