BYTON Valuation, Funding & Investors

BYTON is not operational anymore. Its last reported valuation was $2.5B as of September 2019.

See full BYTON profile

Last BYTON valuation

$2.5B

Series C · Sep 2019

Last BYTON funding round

$500M

Series C · Sep 2019

Cumulative funding BYTON raised

$1.2B

across 3 funding rounds

Key investors in BYTON

BYTON Overview

About BYTON

BYTON is a Shanghai-headquartered electric vehicle manufacturer designing premium smart SUVs as connected devices. The company integrates advanced digital cockpits, autonomous driving features, and over-the-air updates.


Founded

2016

HQ

ChinaNanjing

Website

byton.com

Status

Closed

Customer focus

B2C

Revenue model

Product sales

Valuation

$2.5B (Sep 2019)

BYTON Valuation

BYTON is insolvent and not operational anymore. Read the announcement ↗

BYTON was last valued at $2.5B, based on its Series C in September 2019.

The $500M round was led by FAW Group and Marubeni.

BYTON's valuation grew 3.3x from $750M at its undisclosed-stage round in August 2017 to $2.5B in September 2019, across 3 priced rounds.

BYTON valuation by funding round

BYTON valuation by funding round
DateStageValuation
Jun 2023Write-down · Insolvency$0
Sep 2019Series C$2.5B
Jun 2018Series B$1.3B
Aug 2017Undisclosed stage$750M

BYTON Funding History

Before winding down, BYTON has raised a total of $1.2B across 3 funding rounds.

BYTON's first fundraising round was a $200M undisclosed-stage round in August 2017. The most recent completed round was a $500M Series C in September 2019.

BYTON funding rounds

BYTON funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2019Series CFAW Group (lead); Marubeni (lead)$500M$2.5BBYTON, a Chinese electric vehicle maker, was in the process of raising a targeted USD 500 million Series C funding round as of November 2019, with investors including China's FAW Group, governmental funds from Nanjing (Jiangsu province), and South Korean auto parts supplier Myoung Shin. Marubeni Corporation, a major Japanese trading company, also joined as an investor and established a strategic partnership with BYTON for ride-hailing services, power and energy solutions, and overseas production and sales of BYTON models. The company showcased its SUV featuring a 48-inch dashboard screen at CES 2020.
Jun 2018Series BTusholdings; CATL; FAW Group$500M$1.3BByton is a China-based electric vehicle startup founded in 2016 by former Nissan Motor and BMW executives, owned by China Harmony New Energy Auto Holding. The company develops smart, connected electric vehicles featuring advanced technology such as a 49-inch dashboard screen, a tablet integrated in the steering wheel, and autonomous driving capabilities. Byton's first vehicle concept, the M-Byte SUV, was showcased at CES 2018 and was scheduled to begin mass production by the end of 2019, with approximately 100 prototype cars undergoing testing at the time of the Series B round. In June 2018, Byton closed a $500 million Series B funding round led by Contemporary Amperex Technology (CATL), the world's largest battery producer, alongside state-owned automotive manufacturer FAW Group (contributing approximately $250 million), TUS Holdings (the asset management arm of Tsinghua University), and several undisclosed backers. Prior to this Series B, the company had secured $100 million in earlier rounds including $30 million from China Harmony New Energy Auto Holding in 2016 and $200 million from Suning.Com and Fullshare Holdings in August 2017. CATL agreed to supply lithium-ion batteries and power solutions for Byton's vehicles, while FAW partnered with Byton on car production, sales, and research and development, helping the startup overcome regulatory hurdles to manufacture electric vehicles in China. At the time of the Series B round, Byton was pre-revenue and focused on completing its manufacturing facility in Jiangsu Province and preparing for commercial vehicle launch. In early 2019, the company announced plans to raise an additional $500 million in Series C funding, targeting a valuation exceeding $4 billion, though the specific post-money valuation of the June 2018 Series B round was not publicly disclosed.
Aug 2017Undisclosed stageFullshare Holdings (lead); Suning.com (lead)$200M$750MBYTON, founded in 2016 as Future Mobility, is a China-based developer of smart electric vehicles, including the M-Byte sports utility vehicle featuring a 49-inch dashboard screen, steering wheel tablet, gesture controls, driver-assistance systems, and augmented reality mirrors, with plans for sedan and minivan models and series production targeted for late 2019. The company secured $200 million in an August 2017 funding round from retail group Suning.com and diversified holding company Fullshare Holdings, following initial funding of about $100 million across two earlier rounds, including $30 million from China Harmony New Energy Auto Holding in late 2016. This round built on backing from investors like Tencent and Foxconn, though some withdrew due to regulatory cash flow issues. Subsequent to the 2017 round, BYTON closed a $500 million series B in June 2018 led by FAW Group ($260 million), Contemporary Amperex Technology, TUS Holdings, and others, after targeting $300-400 million at a $1.2 billion valuation earlier that year (unconfirmed). In early 2019, BYTON sought a series C round of at least $500 million at over $4 billion valuation to fund M-Byte mass production, R&D, and pre-IPO preparations, having built around 100 prototypes. CEO Carsten Breitfeld indicated one more round before pursuing an IPO. BYTON aimed to launch trial production volumes by April 2019 amid competition in China's electric vehicle sector.

Who has invested in BYTON?

6 investors have backed BYTON across its funding rounds, including FAW Group, Marubeni, CATL, Tusholdings, Suning.com and Fullshare Holdings.

Lead investors include FAW Group, Marubeni, Fullshare Holdings and Suning.com.


BYTON Investors

Investors in BYTON by funding rounds participated
InvestorHQRoundsRoleFirst check
FAW GroupChinaChangchun2LeadJun 2018
TusholdingsChinaBeijing1ParticipantJun 2018
Fullshare HoldingsChinaHong Kong1LeadAug 2017
CATLChinaNingde1ParticipantJun 2018

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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BYTON Competitors

BYTON competitors included listed companies like Xos Trucks, Ebusco Holding and Digital Currency X, and private ones like Evoke Motorcycles, Palki Motors Pte. Ltd. and JCC Bowers.

Public and private companies comparable to BYTON
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Xos TrucksUnited StatesUnited StatesPublicly listed$46M($21M)$35M1.0x
Ebusco HoldingNetherlandsNetherlandsPublicly listed$86M($58M)$32M-
Evoke MotorcyclesHong KongHong KongPrivate--$4M-
Palki Motors Pte. Ltd.SingaporeSingaporePrivate--$3M-
Digital Currency XChinaChinaPublicly listed-$71M$3M-
JCC BowersUnited KingdomBasingstokePrivate--$2M-

BYTON Public Comps

BYTON is defunct now, but its public comps included Canoo, Stardust Power, Hopium, Clean Motion, Sono Group, Tenax International, Triggo and Nilsson Special Vehicles.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Canoo$886K($283M)0.0x-0.0x-
Stardust Power-($15M)--(0.2x)(0.4x)
Hopium$201K-47.0x---
Clean Motion$188K($1M)5.9x-(0.9x)-
Sono Group$168K-20.3x---
Tenax International$16M($598K)1.1x-(28.5x)-

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Common questions about BYTON

What happened to BYTON?BYTON is not operational anymore and insolvent as of 1 June 2023.
When was BYTON founded?BYTON was founded in 2016.
Where was BYTON headquartered?BYTON was headquartered in Nanjing, China.
Was BYTON publicly listed?No, BYTON was a private, VC-backed company.
What was BYTON's valuation?BYTON was last valued at $2.5B in its Series C in September 2019.
How much did BYTON raise?BYTON raised $1.2B across 3 funding rounds.
What was BYTON's last funding round?BYTON's last funding round was a $500M Series C in September 2019, led by FAW Group and Marubeni.
Who were BYTON's investors?BYTON's investors included FAW Group, Tusholdings, Fullshare Holdings, CATL, Marubeni and Suning.com.
Who were BYTON's competitors?BYTON's competitors included Xos Trucks, Ebusco Holding, Evoke Motorcycles, Palki Motors Pte. Ltd., Digital Currency X and JCC Bowers.

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