Shanghai KingSi Power Co., Ltd., a digital power distribution enterprise, announced its completion of A-round financing totaling over 100 million yuan ($15.04 million). The leading investor was Eastern Bell Capital, followed by Xiamen C&D Emerging Industry Equity Investment Co., Ltd. Existing shareholders Zhengxuan Investment, Unity Ventures and Yunqi Partners also joined in this round. Winsoul Capital acted as the exclusive financial advisor.
After this round of financing, KingSi Power will work to further enrich the digital power distribution products, in order to adapt to more new energy and new infrastructure application scenarios.
KingSi Power was established in 2020. It became the first firm in China to launch a new generation of intelligent solid-state digital switches by promoting the innovative application of power semiconductors, new materials and digital technologies in power distribution and digitally disruptive innovation of the thermal-magnetic operating structure of traditional power distribution devices, which has greatly enhanced the intelligent network connectivity at the end of the power grid. It has received bulk orders from leading customers and has smoothly entered the process of large-scale commercialization.
Shi Changyun, CEO of KingSi Power, said: “To achieve the goals of carbon peaking and carbon neutrality and the general trend of digital transformation in China, and combined with the growing maturity of the pure solid-state and hybrid solid-state underlying technology architecture, in the field of digital power distribution, KingSi Power will further explore new application scenarios. In next step, we will focus on serial photovoltaic power generation, smart buildings and electric vehicles.”
The hundred-billion yuan power distribution industry is facing profound changes. With the vigorous rise of new energy and new infrastructure in China and the rapid development of new DC power distribution markets such as 5G, photovoltaic and energy storage, new requirements are put forward for terminal power distribution products: better performance indicators, more diversified function integration, finer and more flexible control, and the resulting high energy efficiency and comprehensive safety protection.