Ambilight Inc, an electrochromic technology developer, announced on Thursday that it had completed a C-round of financing worth hundreds of millions of dollars led by Huaping Investment. This round of financing will be used for the R&D of new Electrochromics products, capacity expansion, and global commercialization.
The company’s official website shows that Ambilight Inc. was founded in 2017 and has laboratories in Shenzhen, Nanjing and Indiana, USA. At present, its products are mainly used for automobile side windows and sunroofs of, building facades, rear panels of mobile phones and AR glasses. The market for these devices is said to have a potential scale of nearly one trillion yuan.
Ambilight Inc. worked with smartphone maker OPPO to launch the world’s first mass-produced electrochromic smartphone in 2020, and launched the second mass-produced electrochromic smartphone, the Reno6 Pro+ Detective Conan Limited Edition, in 2021. At present, Xiaomi, vivo and OnePlus also have plans to make electrochromic products.
In addition, as a supplier of green building materials, the Ambilight EC Facade can effectively protect the environment by dynamically adjusting indoor lighting and heating while keeping the building at a comfortable temperature and reducing any loss of heat from the building. The product also meets the high permeability and low reflection requirements of the environmental protection development for the glass construction industry.
Previously, BYD and NIO Capital have participated in the investment of Ambilight Inc. as strategic investors. Earlier, the company completed the B round of financing worth tens of millions of dollars from Matrix Partners and China Pinnacle Equity Management.