Half a year after raising $500m in a TUS Holdings-backed series B round, the electric car developer is seeking another $500m before it floats.
Byton, a China-based smart car developer backed by Tsinghua University’s asset management arm TUS Holdings, is seeking at least $500m in funding, Reuters reported yesterday.
The company is aiming for a valuation of more than $4bn and is particularly keen on attracting overseas investors, according to people familiar with the matter. Byton confirmed it was raising a series C round but did not reveal any additional information.
Founded in 2016 as Future Mobility, Byton is developing smart, electric vehicles…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
