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- Eacon Mining
Eacon Mining Funding, Investors & Competitors
Eacon Mining has raised $162M across 4 funding rounds, most recently a $56M Series D in June 2025.
Last Eacon Mining funding round
$56M
Series D · Jun 2025
Cumulative funding Eacon Mining raised
$162M
across 4 funding rounds
Key investors in Eacon Mining
F&G Venture
Richen Capital
Estar Capital
Falcon Capital
Zijin Mining
Puquan Capital
Shenwan Innovation Investment
TONLY
About Eacon Mining
Eacon Mining is a Shanghai-based autonomous driving technology provider for open-pit mines. The company's four-in-one system includes scheduling centers, truck driving systems, communication networks, and coordination tools, deployed in coal mines exceeding 35 million tonnes annual capacity. As of 2022, its fleet of 53 trucks hauled 5.07 million cubic meters over 1.14 million kilometers.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Eacon Mining Funding History
Eacon Mining has raised a total of $162M across 4 funding rounds.
Eacon Mining's first fundraising round was a $9M angel round in July 2019. The most recent completed round was a $56M Series D in June 2025.
Eacon Mining funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2025 | Series D | Puquan Capital (lead); CHC Navigation; F&G Venture; Falcon Capital; TONLY; Zhongji Innolight; Suzhou Xiuzheng Venture Capital Management | $56M | EACON Mining Technology, founded in 2018 and headquartered in Shanghang, China, develops OEM-agnostic smart mining haulage technology, providing factory-built and retrofit autonomous solutions compatible with any truck manufacturer for greenfield and brownfield operations. The company has deployed nearly 1,500 autonomous trucks across over 20 sites, including five with more than 100 trucks and three with over 200, achieving scaled commercialization in coal, metals, and aggregates in China. It operates R&D centers in Beijing, Shanghai, and Zhengzhou, with service networks in China and Australia, delivering end-to-end support from system integration to maintenance. EACON secured over US$55 million (approximately AU$86 million) in its Series D funding round in June 2025, led by CATL through CATL Capital, with participation from investors including Falcon Capital. Prior rounds included a $55M Series C in 2023 with e-Star Capital and Richen Capital, and a $41.7M other financing in 2024 led by MinxiXinghang State-owned Investment & Operation, bringing total funding to $152.5M across three rounds. The proceeds will fund local R&D for its autonomous haulage platform tailored to Australian conditions, pilot deployments with partners like Thiess and Norton Gold Fields, and establishment of sales, support, and engineering operations in Australia to strengthen global expansion, particularly in the Australian mining market amid rising automation adoption for safety, efficiency, and productivity. |
| Mar 2024 | Series C | Xinghang State-owned Assets Investment (lead); Zijin Mining (lead); Zhengzhou High-tech Industrial Investment Fund | $42M | Eacon Mining Technology (易控智驾) develops autonomous driving systems for mining trucks. In March 2024, it raised over 300 million yuan ($41.7 million) in an 'Other Financing Round' or strategic investment, led by Minxi Xinghang State-owned Investment & Operation Co. Ltd. (also referred to as Xinghang State-owned Assets Investment) and Zijin Mining Group Co. Ltd., with possible participation from Zhengzhou High-tech Industrial Investment Fund. This followed a Series C of $55M in 2023 from e-Star Capital and Richen Capital, bringing total funding in the prior six months over 700 million yuan, and preceded a Series D of $55.8M in 2025 supported by CATL and Falcon, for cumulative funding of $152.5M across three rounds. The company plans to use the 2024 proceeds for new product development and managing autonomous fleet operations, positioning it for growth in zero-emission truck technology and market expansion in the mining sector. Eacon aims to solidify leadership through R&D in driverless mining solutions. This funding reflects strategic interest from state-owned assets and mining giants like Zijin, highlighting the sector's push toward automation amid China's mining industry transformation. |
| Nov 2023 | Series C | Richen Capital (lead); Estar Capital; Shenwan Innovation Investment | $55M | Eacon Mining Technology, a Beijing-based provider of autonomous haulage solutions (AHS) for open-pit mines, raised approximately $55.22 million (CNY400 million) in a Series C equity funding round around November 17-21, 2023, led by Richen Capital, with participation from Shenyin&Wanguo Capital Management (also referred to as Shenwan Innovation Investment or Shenyin and Wanguo Investment) and existing investors including Estar Capital (e-Star Capital). This round brought the total funding raised by Eacon in 2023 to over $62 million. The proceeds are intended to enhance research and development of autonomous haulage solutions, promote mass production and application of self-driving mining vehicles, expand operations, and support international growth, including an office in Perth, Australia, with plans for market entry there in 2024. Founded in May 2018 by Lei Zhang, Eacon develops full-stack autonomous driving technology, including the new energy autonomous drive-by-wire platform Yushi, which upgrades mining trucks to self-driving capabilities. The company has deployed 304 autonomous trucks (or nearly 300, or over 300) across five of China's top 10 open-pit coal mines, achieving a cumulative autonomous mileage of 4.2 million kilometers with an impeccable safety record over five years. Notable partnerships include National Energy Group, TBEA, State Power Investment, and Zijin Mining, highlighting advanced commercialization in the mining sector compared to other autonomous driving applications. The investment reflects a shift to rational funding in autonomous driving, positioning Eacon for large-scale deployment, profitability, global expansion, and leadership in mining automation and new energy systems. Richen Capital noted Eacon's operation of 203 unmanned trucks in a single mine as evidence of expertise. Subsequent rounds include a $41.7 million financing in March 2024 and a Series D in July 2025, bringing total funding to $152.5 million across multiple rounds. |
| Jul 2019 | Angel | Xingtao Investment (lead) | $9M | - |
Who has invested in Eacon Mining?
14 investors have backed Eacon Mining across its funding rounds, including F&G Venture, Richen Capital, Estar Capital, Falcon Capital, Zijin Mining and Puquan Capital.
Lead investors include Puquan Capital, Xinghang State-owned Assets Investment, Zijin Mining, Richen Capital and Xingtao Investment.
Eacon Mining Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Nov 2023 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Lead | Mar 2024 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Lead | Mar 2024 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Lead | Jun 2025 | ||
| 1 | Participant | Nov 2023 | ||
| 1 | Lead | Nov 2023 | ||
This data is available for Pro users. Sign up to see all 14 Eacon Mining investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialEacon Mining Competitors
Eacon Mining competitors include listed companies like KPIT Technologies, Autodesk, PTC and EquipmentShare.com, and private ones like NEURA Robotics and Divergent.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $673M | $128M | $1.6B | 2.2x | ||
| Publicly listed | $7.2B | $1.8B | $46B | 5.7x | ||
| Publicly listed | $2.7B | $1.1B | $15B | 5.8x | ||
| Private | - | - | $7B | - | ||
| Publicly listed | $4.4B | $704M | $4.6B | 1.8x | ||
| Private | - | - | $2.3B | - |
Eacon Mining Public Comps
Eacon Mining is still privately-owned, but its public comps include Tesla, Cadence Design Systems, General Motors, Autodesk, Constellation Software, Dassault Systemes, Hexagon, Snap-on, SAIC Motor and PTC.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $5.3B | $1.8B | 14.8x | 13.0x | 44.3x | 27.3x | |||
| $185B | $15B | 1.0x | 1.0x | 12.1x | 8.5x | |||
| $7.2B | $1.8B | 6.3x | 5.7x | 25.6x | 14.1x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
| $7.2B | $2.2B | 4.0x | 4.0x | 13.2x | 11.2x | |||
| $6.2B | $1.7B | 4.2x | 5.0x | 15.2x | 14.0x | |||
| $5.2B | $1.4B | 3.7x | 3.9x | 13.2x | 13.0x | |||
This data is available for Pro users. Sign up to see all Eacon Mining competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Eacon Mining
| When was Eacon Mining founded? | Eacon Mining was founded in 2018. |
| Where is Eacon Mining headquartered? | Eacon Mining is headquartered in Beijing, China. |
| Is Eacon Mining publicly listed? | No, Eacon Mining is a private, VC-backed company. |
| How much funding has Eacon Mining raised? | Eacon Mining has raised $162M across 4 funding rounds. |
| What was Eacon Mining's last funding round? | Eacon Mining's last funding round was a $56M Series D in June 2025, led by Puquan Capital. |
| Who are Eacon Mining's investors? | Eacon Mining's investors include Estar Capital, CHC Navigation, Zijin Mining, F&G Venture, Falcon Capital, TONLY, Zhengzhou High-tech Industrial Investment Fund, Xinghang State-owned Assets Investment, Zhongji Innolight, Puquan Capital and 4 others. |
| Which companies are comparable to Eacon Mining? | Companies comparable to Eacon Mining include KPIT Technologies, Autodesk, PTC, NEURA Robotics, EquipmentShare.com and Divergent. |
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