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- JOYNEXT
JOYNEXT Valuation, Funding & Investors
JOYNEXT is valued at $577M as of May 2022.
Last JOYNEXT valuation
$577M
Undisclosed stage · May 2022
Last JOYNEXT funding round
$48M
Undisclosed stage · May 2022
Cumulative funding JOYNEXT raised
$155M
across 2 funding rounds
Key investors in JOYNEXT
Cathay Capital
F&G Venture
China Coal Xinji Energy
Ningbo Joyson Electronic
Baoteng Power
Ningbo Gaofa Automotive
About JOYNEXT
JOYNEXT is a Chinese automobile technology company that develops smart cockpit platforms and integrated vehicle systems. The firm provides software and hardware solutions for in-car infotainment, driver assistance, and connectivity features deployed in passenger vehicles across domestic markets.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing, Subscription
Valuation
$577M (May 2022)
JOYNEXT Valuation
JOYNEXT is currently valued at $577M, based on its undisclosed-stage round in May 2022.
The $48M round was led by Ningbo Joyson Electronic.
JOYNEXT's valuation has grown 1.2x from $481M at its undisclosed-stage round in October 2020 to $577M in May 2022, across 2 priced rounds.
JOYNEXT valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2022 | Undisclosed stage | $577M |
| Oct 2020 | Undisclosed stage | $481M |
JOYNEXT Funding History
JOYNEXT has raised a total of $155M across 2 funding rounds.
JOYNEXT's first fundraising round was a $107M undisclosed-stage round in October 2020. The most recent completed round was a $48M undisclosed-stage round in May 2022.
JOYNEXT funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2022 | Undisclosed stage | Ningbo Joyson Electronic (lead) | $48M | $577M | Ningbo Joynext Technology Co., Ltd. (JOYNEXT) is an intelligent mobility subsidiary of Joyson Electronics, specializing in smart connectivity solutions, intelligent cockpits, automotive connectivity including 5G-V2X, and autonomous driving technologies. Established around 2020, JOYNEXT operates with over 1,600 employees across multiple R&D centers and manufacturing locations globally, partnering with OEMs and tech firms like Huawei, Qualcomm, and Horizon Robotics to deliver products in millions of vehicles. On May 13, 2022, Ningbo Joyson Electronic Corp. agreed to acquire an 8.0392% stake in JOYNEXT from sellers including Ningbo Gaofa, Qin Song, Sang Shumin, and Li Chao for approximately CNY320 million, implying a full post-money valuation of around CNY3.98 billion; the transaction completed on December 8, 2022. This deal aligns with Joyson Electronics' expansion in automotive electronics and safety systems. JOYNEXT has since advanced partnerships, such as with Senior Auto for Level 4 smart driving solutions, including a deployed smart port digital management platform at Ningbo Port integrating V2X, autonomous driving, and cloud dispatching. Joyson Electronics, JOYNEXT's parent, reported strong growth with 2024 full-year revenue of RMB 55.9 billion and new orders of RMB 83.9 billion, including RMB 26.5 billion in automotive electronics, but no specific revenue or EBITDA figures for JOYNEXT near the 2022 round were disclosed using standard terms. |
| Oct 2020 | Undisclosed stage | China Coal Xinji Energy (lead); Baoteng Power; F&G Venture; Ningbo Gaofa Automotive; Cathay Capital | $107M | $481M | Cathay Capital, through its CarTech fund, took part in a RMB 720 million financing round for JOYNEXT in October 2020. The round was led by a fund manager co-launched by SDIC and China Merchants Capital Investment, which committed RMB 300 million. Other participants included Ningbo Gaofa Automotive, F&G Venture and Shenzhen Baoteng Power. The financing came alongside a separate investment by the company's parent, Ningbo Joyson Electronics, and followed a pre-money valuation of RMB 2.5 billion set in the parent's July 2020 exchange filing. The funds are intended to support development of smart driving and cockpit products. JOYNEXT develops and manufactures car infotainment, navigation and connectivity systems and smart cockpit solutions for automakers. The company is controlled by Joyson Electronics, has operations in Germany and China, and was formed from the former Preh Car Connect business. |
Who has invested in JOYNEXT?
6 investors have backed JOYNEXT across its funding rounds, including Cathay Capital, F&G Venture, China Coal Xinji Energy, Ningbo Joyson Electronic, Baoteng Power and Ningbo Gaofa Automotive.
Lead investors include Ningbo Joyson Electronic and China Coal Xinji Energy.
JOYNEXT Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| -- | 1 | Participant | Oct 2020 | |
| 1 | Lead | May 2022 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Oct 2020 | ||
This data is available for Pro users. Sign up to see all 6 JOYNEXT 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 TrialJOYNEXT Competitors
JOYNEXT competitors include listed companies like Aeva, Broadleaf and Alfa Financial Software, and private ones like Envisics, AutoFi and Dazhongkanche.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $18M | ($139M) | $599M | 19.4x | ||
| Publicly listed | $132M | $33M | $534M | 3.9x | ||
| Publicly listed | $170M | $58M | $666M | 3.6x | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $735M | - |
JOYNEXT Public Comps
JOYNEXT is still privately-owned, but its public comps include Aeva, Broadleaf, Alfa Financial Software, Cerence, SaverOne, Qiming Information, Yonyou Auto Information Technology, SAIMO, Sasken Technologies and Seeing Machines.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $18M | ($139M) | 31.6x | 19.4x | (4.1x) | (5.0x) | |||
| $132M | $33M | 4.2x | 3.9x | 16.8x | - | |||
| $170M | $58M | 3.8x | 3.6x | 11.1x | 11.2x | |||
| $252M | $8M | 1.7x | 1.4x | 52.5x | 6.2x | |||
| $324K | ($9M) | 1041.3x | - | (37.0x) | - | |||
| $116M | $14M | 6.0x | - | 50.5x | - | |||
| $77M | $6M | 8.5x | - | 117.4x | - | |||
| $39M | $21M | 5.7x | - | 10.9x | - | |||
This data is available for Pro users. Sign up to see all JOYNEXT competitors and their valuation data. Start Free Trial | ||||||||
Common questions about JOYNEXT
| When was JOYNEXT founded? | JOYNEXT was founded in 2020. |
| Where is JOYNEXT headquartered? | JOYNEXT is headquartered in Dresden, Germany. |
| Is JOYNEXT publicly listed? | No, JOYNEXT is a private, VC-backed company. |
| What is JOYNEXT's valuation? | JOYNEXT was last valued at $577M in its undisclosed-stage round in May 2022. |
| How much funding has JOYNEXT raised? | JOYNEXT has raised $155M across 2 funding rounds. |
| What was JOYNEXT's last funding round? | JOYNEXT's last funding round was a $48M undisclosed-stage round in May 2022, led by Ningbo Joyson Electronic. |
| Who are JOYNEXT's investors? | JOYNEXT's investors include Baoteng Power, Ningbo Joyson Electronic, F&G Venture, Ningbo Gaofa Automotive, Cathay Capital and China Coal Xinji Energy. |
| Which companies are comparable to JOYNEXT? | Companies comparable to JOYNEXT include Aeva, Broadleaf, Alfa Financial Software, Envisics, AutoFi and Dazhongkanche. |
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