Avita Technology Secures Record-Breaking C-Round Funding, Expands Industry Leading Automotive Business

Avita Technology, a leading automotive technology company, has successfully completed its C-round funding with a total of over $11 billion. The round was led by a consortium of strategic and market-leading investment firms including Longan Automobile Group, Sichuan Huafu Fund, Nanfang Assets Management Fund, CITIC Asset Management, Jiangnan Investment Company, and other prominent investors.

As part of the deal, Avita has actively pushed forward its capital relations with partners on a deep level. In August, Avita formally invested in Huawei's subsidiary "Yiwu", holding a 10% stake to become Yiwu's second-largest shareholder. On December 12th, Avita and Huawei signed an extensive strategic cooperation agreement, promising that the two teams would work closely together based on software-defined automotive concepts. The goal is to create next-generation series cars on new architectures, technology-leading platforms, while in-depth collaboration occurs in product development, marketing, and ecosystem services. Jointly, they aim to provide users with advanced intelligent driving and living experiences.

With comprehensive support from strategic partners like Longan Automobile Group, Huawei, and Ningde Times, Avita has achieved quality rapid growth. In terms of brand, Avita positioned itself by presenting high-visual original futuristic design aesthetics as the brand core with cutting-edge, intelligent, and luxury technologies. As for products, Avita released three major products – Avita 11, Avita 12, Avita 07. The fourth product, Avita 06, is expected to be launched in early 2025.

Avita has consistently broken sales 10000 mark for two consecutive months and entered the exclusive club for over-10000 vehicles. On top of product success, Avita is making steady progress in channel layout, overseas market expansion, and technical research and development.

The successful completion of C-round funding will enable Avita to have ample operational funds, further accelerating the development and design process for future products, enhanced brand development, and overseas expansion. Additionally, Avita is scheduled to complete its investment payment to Huawei's Yiwu in the first half of next year. Currently, Avita has officially started its IPO preparation work, aiming for a possible listing in 2026.

As Avita embarks on this new fundraising milestone, users can look forward to experiencing cutting-edge automotive technology and exclusive experiences.