Phylion Battery Valuation, Funding & Investors

Phylion Battery is valued at $726M as of May 2019.

Last Phylion Battery valuation

$726M

Undisclosed stage · May 2019

Last Phylion Battery funding round

$150M

Undisclosed stage · Mar 2022

Cumulative funding Phylion Battery raised

$347M

across 3 funding rounds

Key investors in Phylion Battery

  • Shenzhen Capital Group
  • CCB International
  • Yingke Capital
  • Boxin Capital
  • Haitong Innovation Capital Management
  • Watere Capital

Phylion Battery Overview

About Phylion Battery

Phylion Battery, founded in 2003 and based in Suzhou, China, researches, develops, manufactures, and sells lithium-ion batteries for electric bicycles, electric logistics vehicles, electric vehicles, and energy storage systems. The company holds international patents for its lithium manganese anode material and operates production bases in Suzhou and Chuzhou along with subsidiaries in Europe and India, exporting batteries to 22 countries. Phylion has sold more than 21 million battery units cumulatively and has led global light-electric-vehicle battery sales for four consecutive years, complementing its core technology with high-energy iron lithium chemistry for specialized applications.


Founded

2003

HQ

ChinaChina

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$726M (May 2019)

Phylion Battery Valuation

Phylion Battery is currently valued at $726M, based on its undisclosed-stage round in May 2019.

The $135M round was led by Yingke Capital, with participation from Boxin Capital, Haitong Innovation Capital Management, PCCW and Watere Capital.

Phylion Battery valuation by funding round

Phylion Battery valuation by funding round
DateStageValuation
May 2019Undisclosed stage$726M

Phylion Battery Funding History

Phylion Battery has raised a total of $347M across 3 funding rounds.

Phylion Battery's first fundraising round was a $63M Series A in November 2015. The most recent completed round was a $150M undisclosed-stage round in March 2022.

Phylion Battery funding rounds

Phylion Battery funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2022Undisclosed stageShenzhen Capital Group (lead)$150M-Phylion Battery Co., Ltd., established in 2003, is a Chinese high-tech enterprise specializing in power lithium batteries, with a 2022 production capacity of 10.2 GWh across production lines focused on manganese multi-lithium composite technology. The company maintains a global layout with bases in Suzhou and Chuzhou, China, and subsidiaries in Europe and India, serving new energy applications including E-bikes, electric vehicles, commercial tricycles, low-speed four-wheelers, and communication energy storage. In light electric vehicles, Phylion's lithium batteries are exported to 22 countries like Germany and France, achieving global cumulative sales exceeding 21 million units by October 2021, leading the world for four consecutive years. It complements core technology with high-energy iron lithium for specialized scenarios. Recently, Phylion Battery secured a strategic investment led by Shenzhen Capital Group's Manufacturing Transformation and Upgrading of New Materials Fund (limited partnership) of 950 million yuan, with the total financing for this round expected to reach 1.5 billion yuan at a post-investment valuation of RMB 1.5 billion. Post-financing, Phylion plans to accelerate multi-dimensional innovation in technology, products, and business strategies, enhancing lithium battery technology, industrialization, multi-scenario layouts, and integration into the full industry chain including power exchange and recycling. The company, a subsidiary of Vantone Real Estate, has raised a total of approximately $269.54 million across rounds, positioning it for potential IPO.
May 2019Undisclosed stageYingke Capital (lead); Boxin Capital; Haitong Innovation Capital Management; PCCW; Watere Capital$135M$726MPhylion Battery is a Chinese developer, manufacturer, and supplier of lithium-ion batteries for electric bicycles and other electric vehicles. The company has raised a total of $269.54M across 5 funding rounds from 6 investors, including Shenzhen Capital Group in its latest Series C of $149.28M on March 14, 2022. A Private Equity round on April 30, 2019, resulted in a post-money valuation of $601.33M, aligning closely with the queried February 2019 timing and investors like Yingke Capital. This round followed earlier funding including Series B in June 2015 and Corporate Majority in July 2018. Phylion operates in the competitive e-bike battery pack market, valued at approximately USD 11.3 billion globally, alongside players like Panasonic, Samsung SDI, LG Energy Solution, BYD, and CATL.
Nov 2015Series ACCB International (lead); Harmony Riverside$63M-Phylion Battery, founded in 2003 and based in Suzhou, China, specializes in the research, development, production, and sales of lithium-ion batteries for electric bicycles, electric logistic vehicles, electric vehicles, and energy storage systems. The company holds international patents for lithium manganese anode material and 97 independent intellectual properties, having sold over 3 million battery packs globally in its first 12 years. By late 2015, it completed shareholding restructuring and renamed from Suzhou Phylion Battery Co., Ltd. to Phylion Battery Co., Ltd., securing over CNY 400 million through a consortium led by CCB International, including Harmony Riverside, via integrated investment and loans. This funding, described as a Series A in some sources and occurring around November 2015, recognized Phylion's achievements amid tightening global investment. Sales doubled consecutively for three years since 2014, reaching CNY 500 million in 2015, with 100% annual average growth. The investment supported core R&D in 'Super Lithium manganate' materials and facility expansions, boosting capacity by 40% to 1.6GWh in 2016 and targeting 2.5GWh with new manufacturing. Phylion aimed for CNY 10 billion in sales and market value within five years, planning an IPO in 2019 to become a global lithium-ion battery leader. Subsequent rounds included a 2016 F round led by Suzhou Shengmai Equity Investment Center with Tibet Dagze Heju, exceeding CNY 1 billion total in half a year. Later financings reached a Series C in 2022 for $149.28M with Shenzhen Capital Group, accumulating $269.54M over five rounds, though no valuations were detailed for the 2015 round.

Who has invested in Phylion Battery?

8 investors have backed Phylion Battery across its funding rounds, including Shenzhen Capital Group, CCB International, Yingke Capital, Boxin Capital, Haitong Innovation Capital Management and Watere Capital.

Lead investors include Shenzhen Capital Group, Yingke Capital and CCB International.


Phylion Battery Investors

Investors in Phylion Battery by funding rounds participated
InvestorHQRoundsRoleFirst check
Boxin CapitalChinaBeijing1ParticipantMay 2019
CCB InternationalHong KongHong Kong1LeadNov 2015
Yingke CapitalChinaFuzhou1LeadMay 2019
Haitong Innovation Capital ManagementChinaShanghai1ParticipantMay 2019
Harmony RiversideChinaBeijing1ParticipantNov 2015
Shenzhen Capital GroupChinaShenzhen1LeadMar 2022

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Investments by Phylion Battery

Phylion Battery has invested in 1 company to date.

Latest investment by Phylion Battery was on July 27th 2023. Phylion Battery invested in Dudu Power in their $7M Series A round.


Latest Investments by Phylion Battery

Dudu Power
Description
Dudu Power is a Shenzhen-based IoT company offering battery-swapping stations for electric bicycles. The firm develops smart hardware and apps for seamless exchanges, operating networks in Chinese cities. Dudu Power partners with e-bike makers for integrated charging solutions.
HQ CountryChina
HQ City
Shenzhen
Deal Date27 Jul 2023
RoundSeries A
Raised$7M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Phylion Battery Competitors

Phylion Battery competitors include listed companies like Kempower, ADS-TEC Energy and Solid Power, and private ones like Nyobolt, Sion Power and Battery Smart.

Public and private companies comparable to Phylion Battery
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
KempowerFinlandFinlandPublicly listed$289M$690K$632M1.9x
ADS-TEC EnergyGermanyGermanyPublicly listed$36M($3M)$842M26.7x
Solid PowerUnited StatesUnited StatesPublicly listed$18M($87M)$581M38.3x
NyoboltUnited KingdomCambridgePrivate$9M-$1B-
Sion PowerUnited StatesUnited StatesPrivate--$465M-
Battery SmartIndiaGurgaonPrivate$18M-$450M25.0x

Phylion Battery Public Comps

Phylion Battery is still privately-owned, but its public comps include Hyliion, Eve Air Mobility, Energy Vault, WIP Terminal, Enovix, Kempower, Matthews International, Veken Technology Co, Lotus Technology and ADS-TEC Energy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Hyliion$3M($60M)192.1x60.8x(11.2x)(13.9x)
Eve Air Mobility-($212M)--(3.0x)(2.8x)
Energy Vault$204M($83M)4.6x3.6x(11.4x)(46.2x)
WIP Terminal------
Enovix$32M($114M)22.3x19.4x(6.2x)(8.3x)
Kempower$289M$690K2.2x1.9x917.9x59.5x
Matthews International$1.5B$151M0.8x1.2x8.1x7.6x
Veken Technology Co$211M$7M2.7x-79.5x-

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Common questions about Phylion Battery

When was Phylion Battery founded?Phylion Battery was founded in 2003.
Where is Phylion Battery headquartered?Phylion Battery is headquartered in China.
Is Phylion Battery publicly listed?No, Phylion Battery is a private, VC-backed company.
What is Phylion Battery's valuation?Phylion Battery was last valued at $726M in its undisclosed-stage round in May 2019.
How much funding has Phylion Battery raised?Phylion Battery has raised $347M across 3 funding rounds.
What was Phylion Battery's last funding round?Phylion Battery's last funding round was a $150M undisclosed-stage round in March 2022, led by Shenzhen Capital Group.
Who are Phylion Battery's investors?Phylion Battery's investors include Boxin Capital, CCB International, Yingke Capital, Haitong Innovation Capital Management, Harmony Riverside, Shenzhen Capital Group, PCCW and Watere Capital.
Which companies are comparable to Phylion Battery?Companies comparable to Phylion Battery include Kempower, ADS-TEC Energy, Solid Power, Nyobolt, Sion Power and Battery Smart.
How many companies has Phylion Battery invested in?Phylion Battery has invested in 1 company, including Dudu Power.
What was Phylion Battery's last investment?In July 2023, Phylion Battery invested in Dudu Power's $7M Series A.

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