Lixiang Automotive Raises USD530 Million in Series C Round Led by Xing Wang
Posted On: 19 Aug 2019 | Source(s): Asian Venture Capital Journal, DEALSTREETASIA | Author(s): Tim Burroughs, Nguyen Thi Bich Ngoc
China-based electric vehicle producer Lixiang Automotive has secured USD530 million in a Series C funding round led by Meituan-Dianping founder and CEO Xing Wang. Other participants in the round include existing investors Plum Ventures, Matrix Partners, Bluerun Ventures, and Future Capital, as well as Lixiang founder Xiang Li and China-based internet technology company ByteDance. The deal reportedly values Lixiang at USD2.9 billion.