AIWAYS Valuation, Funding & Investors

AIWAYS is valued at $1.6B as of April 2018.

Last AIWAYS valuation

$1.6B

Series B · Apr 2018

Last AIWAYS funding round

$146M

Series C · May 2019

Cumulative funding AIWAYS raised

$797M

across 4 funding rounds

Key investors in AIWAYS

  • Shagang Group
  • CCI Holdings
  • Mingchi Fund

AIWAYS Overview

About AIWAYS

AIWAYS is a Shanghai-headquartered electric vehicle manufacturer focusing on smart cars with integrated AI and electric drive systems. It produces the U5 SUV and operates in travel services, retail, and energy sectors. AIWAYS exports to Europe and partners with local dealers. Established in 2017, it maintains production facilities in China with annual output exceeding 50,000 units.


Founded

2017

HQ

ChinaShanghai

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Product sales

Valuation

$1.6B (Apr 2018)

AIWAYS Valuation

AIWAYS is currently valued at $1.6B, based on its Series B in April 2018.

The $159M round was led by Shagang Group.

AIWAYS valuation by funding round

AIWAYS valuation by funding round
DateStageValuation
Apr 2018Series B$1.6B

AIWAYS Funding History

AIWAYS has raised a total of $797M across 4 funding rounds.

AIWAYS's first fundraising round was a $181M angel round in October 2017. The most recent completed round was a $146M Series C in May 2019.

AIWAYS funding rounds

AIWAYS funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2019Series CMingchi Fund (lead)$146M-Aiways is a Chinese electric vehicle startup that received a CNY1 billion (USD144.8 million) cash injection from the Mingchi New Energy Innovation Investment Center in May 2019. The fund was registered in early March 2019 with capital of CNY1 billion to support local industry in Shangrao, Jiangxi province, where Aiways is based. The fund's major shareholders are Binjiang Investment and Jiangxi Development Upgrade Guidance Fund. As of April 2019, prior to this round, Aiways had secured a total of CNY7 billion in funds across three rounds. The investment was intended to support the two-year-old firm in building its manufacturing plant and assembly line with an annual production capacity of 300,000 units in Shangrao, conducting research and development on new models, and opening nationwide sales outlets. At the time of the funding, Aiways had completed the first phase of plant construction, which could produce 150,000 units annually, though the company had not yet revealed a timeline for releasing its first mass-produced model.
Apr 2018Series BShagang Group (lead)$159M$1.6BAIWAYS is a smart electric vehicle manufacturer founded in February 2017 and headquartered in Shanghai, China. The company was founded by Chinese entrepreneurs Samuel Fu and Gary Gu with a mission to develop affordable, enjoyable electric vehicles, starting with the U5 model. AIWAYS has raised a total of CNY 5.2 billion across four investment rounds, with backing from Mingchi Fund, Shagang Group, and other undisclosed investors. The company competes with established Chinese EV manufacturers including NIO, Xpeng, and Li Auto. As of current data, AIWAYS operates with 101–200 employees and has expanded internationally, with the U5 beginning pre-sales in Israel.
Jan 2018Series ACCI Holdings$311M--
Oct 2017Angel-$181M--

Who has invested in AIWAYS?

3 investors have backed AIWAYS across its funding rounds, including Shagang Group, CCI Holdings and Mingchi Fund.

Lead investors include Mingchi Fund and Shagang Group.


AIWAYS Investors

Investors in AIWAYS by funding rounds participated
InvestorHQRoundsRoleFirst check
CCI HoldingsChinaBeijing1ParticipantJan 2018

This data is available for Pro users. Sign up to see all 3 AIWAYS investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

AIWAYS Competitors

AIWAYS competitors include listed companies like Ola Electric, Eos Energy Enterprises and Amprius, and private ones like Caocao Chuxing, Chunqing Technology and StoreDot.

Public and private companies comparable to AIWAYS
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Caocao ChuxingChinaHangzhouPrivate--$1.5B-
Chunqing TechnologyChinaTianjinPrivate--$1.5B-
StoreDotIsraelHerzliyaPrivate--$1.5B-
Ola ElectricIndiaIndiaPublicly listed$215M($97M)$1.7B7.9x
Eos Energy EnterprisesUnited StatesUnited StatesPublicly listed$114M($930M)$1.4B9.9x
AmpriusUnited StatesUnited StatesPublicly listed$72M($41M)$1.4B10.9x

AIWAYS Public Comps

AIWAYS is still privately-owned, but its public comps include Lucid, Ola Electric, Eos Energy Enterprises, Amprius, WeRide, Polestar, T1 Energy, Fastned, Uniconn and Voyah.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Lucid$1.4B($2.3B)5.5x4.7x(3.2x)(2.6x)
Ola Electric$215M($97M)8.8x7.9x(19.5x)(21.4x)
Eos Energy Enterprises$114M($930M)21.8x9.9x(2.7x)(9.5x)
Amprius$72M($41M)18.4x10.9x(32.1x)854.4x
WeRide$102M($257M)11.4x8.3x(4.5x)(5.0x)
Polestar$3.1B($1.9B)2.2x2.1x(3.4x)(7.9x)
T1 Energy$755M($210M)2.7x2.2x(9.7x)52.8x
Fastned$160M$17M14.5x11.1x140.0x60.5x

This data is available for Pro users. Sign up to see all AIWAYS competitors and their valuation data.

Start Free Trial

Common questions about AIWAYS

When was AIWAYS founded?AIWAYS was founded in 2017.
Where is AIWAYS headquartered?AIWAYS is headquartered in Shanghai, China.
Is AIWAYS publicly listed?No, AIWAYS is a private, VC-backed company.
What is AIWAYS's valuation?AIWAYS was last valued at $1.6B in its Series B in April 2018.
How much funding has AIWAYS raised?AIWAYS has raised $797M across 4 funding rounds.
What was AIWAYS's last funding round?AIWAYS's last funding round was a $146M Series C in May 2019, led by Mingchi Fund.
Who are AIWAYS's investors?AIWAYS's investors include CCI Holdings, Shagang Group and Mingchi Fund.
Which companies are comparable to AIWAYS?Companies comparable to AIWAYS include Caocao Chuxing, Chunqing Technology, StoreDot, Ola Electric, Eos Energy Enterprises and Amprius.

See companies similar to AIWAYS

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial