HiNa Battery announced the close of its Pre A financing round, raising tens of millions of yuan. The investment was led by CAS Star and Phoenix Tree Capital Partners.
Proceeds from the fresh funding will mainly be used to expand the R&D team and explore the sales market to accelerate the marketization process of sodium ion batteries.
Prior to this, HiNa Battery had completed the angel round financing in 2018.
Founded in 2017, HiNa Battery is the first high-tech enterprise in China focusing on the research, development and production of sodium ion batteries. The company's core technology comes from the Clean Energy Laboratory of the Institute of Physics, Chinese Academy of Sciences.
The sodium ion battery of HiNa Battery can meet the needs of electrification of short-distance transportation vehicles such as two-wheelers, tricycles and low-speed electric vehicles. It can also be used in home energy storage and 5G base station power supply applications, and is suitable for large-scale energy storage.