Singulato Motors Valuation, Funding & Investors

Singulato Motors is valued at $900M as of August 2018.

Last Singulato Motors valuation

$900M

Strategic investment · Aug 2018

Last Singulato Motors funding round

$9M

Strategic investment · Aug 2018

Cumulative funding Singulato Motors raised

$1.1B

across 3 funding rounds

Key investors in Singulato Motors

Singulato Motors Overview

About Singulato Motors

Singulato Motors is a Beijing-headquartered electric vehicle manufacturer focused on smart new energy automobiles. The company produces models like the iS6 SUV with 500 km range batteries and Level 3 autonomous driving capabilities, integrating big data analytics and cloud computing for vehicle-to-everything communication. Founded in 2014, Singulato invests in battery swapping stations and partnerships with Baidu for mapping data, targeting urban mobility solutions in China through its network of over 100 charging hubs.


Founded

2014

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$900M (Aug 2018)

Singulato Motors Valuation

Singulato Motors is currently valued at $900M, based on its strategic investment round in August 2018.

The $9M round was led by ITOCHU.

Singulato Motors' valuation has moved from $3B at its Series B in February 2016 to $900M in August 2018, across 2 priced rounds.

Singulato Motors valuation by funding round

Singulato Motors valuation by funding round
DateStageValuation
Aug 2018Strategic investment$900M
Feb 2016Series B$3B

Singulato Motors Funding History

Singulato Motors has raised a total of $1.1B across 3 funding rounds.

Singulato Motors' first fundraising round was a $600M Series B in February 2016. The most recent completed round was a $9M strategic investment round in August 2018.

Singulato Motors funding rounds

Singulato Motors funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2018Strategic investmentITOCHU (lead)$9M$900MSingulato Motors is a Chinese electric vehicle manufacturer founded in 2014 by Shen Haiyin, focusing on highly connected vehicles using AI and IoT technologies to provide data application services beyond EV sales. On August 29, 2018, ITOCHU Corporation made a capital contribution by subscribing to new shares in Singulato (ZHICHEAUTO Technology Shanghai Co., Ltd.), with the round valued at a post-money valuation of $900 million and amounting to nearly $100 million. ITOCHU aimed to leverage its auto sales expertise and Singulato's data and after-sales know-how to build next-generation mobility business in China's rapidly growing EV market. By late 2018, Singulato had raised a total of about 7 billion yuan ($1.02 billion) across rounds since inception, including a prior 3 billion yuan raise earlier that year and a $600 million round in 2016 backed by Tongling government. The company invested heavily in facilities, spending 5 billion yuan on a production site in Hunan for electric commercial vehicles and planning an 8 billion yuan factory in Tongling, Anhui, though it had not yet produced vehicles and delayed its first model iS6 from 2018 to 2019.
Apr 2018Series CBAIC BluePark New Energy (lead)$476M-Singulato Motors is a Chinese electric vehicle startup focused on developing and manufacturing EVs, including the iS6 SUV with a 400 km range, 0-100 km/h in 4 seconds, and pricing from 200,000 to 300,000 yuan. In April 2018, it announced securing funding for a 15 billion yuan ($2.39 billion USD) investment in a manufacturing hub in Suzhou over five years, in partnership with the Suzhou government, to bring vehicles to production. The company emerged as a well-funded competitor to NIO, WM Motor, and Xiaopeng Motors in China's booming electric SUV market.
Feb 2016Series BTWC Group; GX Capital; Jianmu Investment$600M$3BSingulato Motors is a Chinese electric car startup focused on smart, connected electric vehicles, planning to launch its first crossover SUV by late 2017 or early 2018 with production outsourced to an existing automaker. In November 2016, the company announced raising approximately $600 million in a second phase of fundraising, part of a total of about $700 million raised, primarily from an investment fund run by the Tongling city municipal government in Anhui province as part of a strategic partnership. The funds were intended to invest heavily in technology and build a state-of-the-art EV production plant in Tongling capable of producing 200,000 cars annually by around 2020. At the time, Singulato had 140 employees and benefited from China's government subsidies and favorable policies for electric vehicles, which could total around 110,000 yuan ($16,285) per car, representing about one third of an electric car's sticker price. Tongling's mayor highlighted the investment as part of a strategy to promote the new energy automotive industry and accelerate the city's industrial transformation. China's push into electric vehicles positioned startups like Singulato to challenge global automakers, amid a focus on battery electric over hydrogen fuel-cell technology.

Who has invested in Singulato Motors?

5 investors have backed Singulato Motors across its funding rounds, including ITOCHU, GX Capital, Jianmu Investment, BAIC BluePark New Energy and TWC Group.

Lead investors include ITOCHU and BAIC BluePark New Energy.


Singulato Motors Investors

Investors in Singulato Motors by funding rounds participated
InvestorHQRoundsRoleFirst check
TWC GroupChinaBeijing1ParticipantFeb 2016
ITOCHUJapanTokyo1LeadAug 2018
GX CapitalChinaBeijing1ParticipantFeb 2016

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Singulato Motors Competitors

Singulato Motors competitors include listed companies like Voyah and Einride, and private ones like Atlis Motor Vehicles, Lordstown Motors, Stark Future and Jidu Auto.

Public and private companies comparable to Singulato Motors
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VoyahChinaChinaPublicly listed$5.2B$562M$883M0.1x
Atlis Motor VehiclesUnited StatesPhoenix, AZPrivate--$950M-
Lordstown MotorsUnited StatesDetroit, MIPrivate--$700M-
EinrideSwedenSwedenPublicly listed$47M($93M)$570M-
Stark FutureSpainBarcelonaPrivate$132M-$555M4.2x
Jidu AutoChinaShanghaiPrivate--$2B-

Singulato Motors Public Comps

Singulato Motors is still privately-owned, but its public comps include Voyah, ADS-TEC Energy, IDOM, Piaggio, Otokar, Marcopolo, Eve Air Mobility, Bajaj Mobility, Ferretti and GB Corp.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Voyah$5.2B$562M0.1x0.1x0.7x1.3x
ADS-TEC Energy$36M($3M)23.2x26.7x(278.0x)-
IDOM$3.6B$147M0.4x0.3x9.0x7.8x
Piaggio$1.7B$284M0.8x0.7x4.7x4.5x
Otokar$1.1B$155M1.5x1.2x10.5x24.2x
Marcopolo$1.8B$367M0.8x0.8x3.9x5.2x
Eve Air Mobility-($212M)--(3.0x)(2.8x)
Bajaj Mobility$1.2B$1B1.8x-2.0x-

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Common questions about Singulato Motors

When was Singulato Motors founded?Singulato Motors was founded in 2014.
Where is Singulato Motors headquartered?Singulato Motors is headquartered in Beijing, China.
Is Singulato Motors publicly listed?No, Singulato Motors is a private, VC-backed company.
What is Singulato Motors' valuation?Singulato Motors was last valued at $900M in its strategic investment round in August 2018.
How much funding has Singulato Motors raised?Singulato Motors has raised $1.1B across 3 funding rounds.
What was Singulato Motors' last funding round?Singulato Motors' last funding round was a $9M strategic investment round in August 2018, led by ITOCHU.
Who are Singulato Motors' investors?Singulato Motors' investors include TWC Group, ITOCHU, GX Capital, Jianmu Investment and BAIC BluePark New Energy.
Which companies are comparable to Singulato Motors?Companies comparable to Singulato Motors include Voyah, Atlis Motor Vehicles, Lordstown Motors, Einride, Stark Future and Jidu Auto.

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