Gazelle Enterprise of China Auto Valley Secures Over RMB 100 Million Financing, Establishing In-depth Partnerships with Multiple Leading Automakers within Five Years

On August 6, Innosensing (Wuhan Shengshi Qichuang Technology Co., Ltd.), headquartered in Wuhan Economic & Technological Development Zone, announced the completion of its Series B financing, raising more than RMB 100 million.

▲ Innosensing Exhibition Hall. (Photo provided by the enterprise) The financing round received joint investment from capital arms of major domestic automotive groups. It was co-led by Ruicheng Fund under Chery Group and Beijing Xiaomi Industrial Investment Fund. Quanzhou Haisi No.1 New Energy Industry Investment, affiliated with Dongfeng Asset Management, participated as a follow-on investor, while existing shareholder Fangguang Capital increased its investment. Founded in 2020, Innosensing focuses on chip development and hardware design of intelligent sensors, intelligent cockpit products for new energy and intelligent connected vehicles. The company has been honored as a Hubei Provincial Sci-Tech "New Species" Enterprise and a Wuhan Key Gazelle Enterprise. Its products have been mass deployed in mainstream domestic new energy vehicle brands including Geely, XPeng, Voyah and Seres, covering over 80% of domestic independent vehicle brands.

▲ Employees working at the office of Innosensing. Photo by Xu Dan. It is revealed that Innosensing has established stable supply partnerships with automakers such as Chery and Dongfeng, and will receive further comprehensive support from Chery, Xiaomi and Dongfeng in the future. A representative from Xiaomi Group Industrial Investment Department stated that the firm recognizes Innosensing’s solid technical expertise and efficient productization capabilities in core electronic components for new energy vehicles. “This investment recognizes its potential to grow into a leading supplier at a critical link of the industrial chain.” “Strong backing from industrial capital will further consolidate our core position within the intelligent vehicle industrial chain,” said Li Cheng, Chairman of Innosensing. Funds raised in this round will be mainly allocated to two strategic priorities: core technology R&D and production capacity expansion. On the R&D front, the company will advance iterative upgrades of key products including intelligent cockpit controllers and three-electric system sensors, and accelerate pre-research on cutting-edge technologies such as advanced intelligent seat control systems. In terms of production capacity, the intelligent transformation of the R&D and manufacturing base at the Wuhan headquarters will be carried out to meet the rapidly rising downstream order demand. According to Li Cheng, Innosensing is strategically developing two core business segments. Its inductive encoder technology has achieved mature application in drive-by-wire chassis and electric drive systems of new energy vehicles, and is planned to be extended to emerging sectors such as humanoid robots. Leveraging proprietary algorithms and patents, the newly established Intelligent Comfort System Division is facilitating rapid product iteration to sustain technological advantages in human-machine interaction experience. Innosensing’s rapid growth and successful financing serve as a vivid example of the rainforest-style innovation ecosystem fostered in Wuhan Economic & Technological Development Zone. Officials from the zone stated that in recent years, the district has built a tiered cultivation system covering tech-based SMEs, high-tech enterprises, gazelle enterprises and unicorn enterprises. This initiative fuels the emergence of numerous high-growth tech firms, forming new driving forces for regional high-quality development.