SFCC Valuation, Funding & Investors

SFCC is valued at $1.9B as of December 2022.

See full SFCC profile

Last SFCC valuation

$1.9B

Series B · Dec 2022

Last SFCC funding round

$646M

Series B · Dec 2022

Cumulative funding SFCC raised

$816M

across 3 funding rounds

Key investors in SFCC

  • Hongtai Capital Holdings
  • National Green Development Fund
  • Chengtong Mixed Reform
  • SPIC
  • Liaoning Energy Industry
  • Sichuan Provincial Investment Group

SFCC Overview

About SFCC

SFCC is a Shenzhen-based high-tech enterprise pioneering hydrogen fuel cell vehicle commercialization. Founded on April 8, 2016, in Guangdong province, the company conducts research, develops power systems, and industrializes core technologies for buses and commercial fleets in China.


Founded

2016

HQ

ChinaShenzhen

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.9B (Dec 2022)

SFCC Valuation

SFCC is currently valued at $1.9B, based on its Series B in December 2022.

The $646M round included Chengtong Mixed Reform, SPIC, Hongtai Capital Holdings, Sichuan Provincial Investment Group and National Green Development Fund.

SFCC's valuation has moved from $1.9B at its Series A in December 2021 to $1.9B in December 2022, across 2 priced rounds.

SFCC valuation by funding round

SFCC valuation by funding round
DateStageValuation
Dec 2022Series B$1.9B
Dec 2021Series A$1.9B

SFCC Funding History

SFCC has raised a total of $816M across 3 funding rounds.

SFCC's first fundraising round was a $400K angel round in May 2019. The most recent completed round was a $646M Series B in December 2022.

SFCC funding rounds

SFCC funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2022Series BChengtong Mixed Reform; SPIC; Hongtai Capital Holdings; Sichuan Provincial Investment Group; National Green Development Fund$646M$1.9B-
Dec 2021Series A-$170M$1.9BShenzhen-based SFCC is a hydrogen fuel cell vehicle company founded in 2016 and incubated by SPIC (State Power Investment Corp.), one of China's largest energy groups. The company focuses on developing the ecosystem for hydrogen fuel cells, vehicles, and refueling stations. In December 2022, SFCC raised $647.5 million in a Series B funding round that valued the company at $1.9 billion, achieving unicorn status.
May 2019AngelLiaoning Energy Industry$400K--

Who has invested in SFCC?

6 investors have backed SFCC across its funding rounds, including Hongtai Capital Holdings, National Green Development Fund, Chengtong Mixed Reform, SPIC, Liaoning Energy Industry and Sichuan Provincial Investment Group.


SFCC Investors

Investors in SFCC by funding rounds participated
InvestorHQRoundsRoleFirst check
Chengtong Mixed ReformChinaChina1ParticipantDec 2022
SPICChinaBeijing1ParticipantDec 2022
Liaoning Energy IndustryChinaChina1ParticipantMay 2019
Hongtai Capital HoldingsChinaChina1ParticipantDec 2022

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SFCC Competitors

SFCC competitors include listed companies like Sunrun, SMA Solar Technology, SolarEdge and Xinyi Solar, and private ones like Star Charge and Ample.

Public and private companies comparable to SFCC
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Star ChargeSingaporeSingaporePrivate--$1.2B-
AmpleUnited StatesSan Francisco, CAPrivate--$1B-
SunrunUnited StatesUnited StatesPublicly listed$3B$546M$2.1B6.0x
SMA Solar TechnologyGermanyGermanyPublicly listed$1.7B($77M)$2.2B1.1x
SolarEdgeUnited StatesUnited StatesPublicly listed$1.2B($365M)$2.2B1.6x
Xinyi SolarChinaChinaPublicly listed$3.1B$544M$2.3B1.6x

SFCC Public Comps

SFCC is still privately-owned, but its public comps include WeRide, Shanghai Electric Wind, Luenmei Quantum Co, Margun Enerji, Fastned, TerraVest Industries, Aksa Enerji, CIMC Enric, Ola Electric and Innovex International.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
WeRide$102M($257M)11.4x8.3x(4.5x)(5.0x)
Shanghai Electric Wind$2B($72M)1.1x-(31.7x)-
Luenmei Quantum Co$483M$220M2.8x2.8x6.1x6.3x
Margun Enerji$28M($7M)70.4x-(281.4x)-
Fastned$160M$17M14.5x11.1x140.0x60.5x
TerraVest Industries$982M$209M2.7x2.1x12.6x11.3x
Aksa Enerji$871M$245M3.5x2.5x12.6x7.9x
CIMC Enric$3.9B$271M0.4x0.4x5.9x5.3x

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Common questions about SFCC

When was SFCC founded?SFCC was founded in 2016.
Where is SFCC headquartered?SFCC is headquartered in Shenzhen, China.
Is SFCC publicly listed?No, SFCC is a private, VC-backed company.
What is SFCC's valuation?SFCC was last valued at $1.9B in its Series B in December 2022.
How much funding has SFCC raised?SFCC has raised $816M across 3 funding rounds.
What was SFCC's last funding round?SFCC's last funding round was a $646M Series B in December 2022.
Who are SFCC's investors?SFCC's investors include Chengtong Mixed Reform, SPIC, Liaoning Energy Industry, Hongtai Capital Holdings, Sichuan Provincial Investment Group and National Green Development Fund.
Which companies are comparable to SFCC?Companies comparable to SFCC include Star Charge, Ample, Sunrun, SMA Solar Technology, SolarEdge and Xinyi Solar.

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