IM Motors secured over $1.1 billion in a Series B financing led by BOC Financial Asset Investment to develop next-generation models, smart driving technology, and to enter overseas markets.
Amount Raised
$1.1 Billion
Round Type
Series B
ShanghaiManufacturingAutomotiveElectric VehicleInvestors
Description
IM Motors secured over $1.1 billion in a Series B financing round led by BOC Financial Asset Investment, with participation from companies including CATL, Momenta, and QingTao Energy. The financing will be used for next-generation model development, smart driving technology development, and entry into overseas markets.
Quick answer
IM Motors raised $1.1 Billion in a Series B round, dated March 2, 2024. Investors: Saic, Qing Tao Energy, Momenta, Catl and BOC Financial Asset Investment. IM Motors is based in Shanghai, Shanghai, China.
- How much did IM Motors raise?
- IM Motors raised $1.1 Billion in a Series B round on March 2, 2024.
- Who invested in IM Motors?
- Saic, Qing Tao Energy, Momenta, Catl and BOC Financial Asset Investment are named as investors in this round.
- What does IM Motors do?
- IM is the newly launched identity for a premium intelligent electric vehicle brand founded by SAIC Motor, Zhangjiang Hi-Tech Group and Alibaba Group.
- Where is IM Motors based and how big is it?
- IM Motors is based in Shanghai, Shanghai, China.
- Who are the decision-makers at IM Motors?
- Fundz holds 2 contacts at IM Motors. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Automotive and Electric Vehicle around the same time
Companies in the same sectors as IM Motors that raised within 45 days of this round, from Fundz verified event records.
- Lucid Group raised $1B (Funding Round) on March 25, 2024.
- Dodai raised $4M (Series A) on March 24, 2024.
- Powerdot raised $108M (Funding Round) on February 29, 2024.
- Polestar raised $950M (Funding Round) on February 28, 2024.
- Endera raised $6.1M on April 15, 2024.
- Ola Electric raised $50M (Debt Financing) on April 1, 2024.
Who to call at IM Motors, and when
A new round usually means IM Motors is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day IM Motors raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at IM Motors, from your own LinkedIn network
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Funding Insights
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