05/29
2023
Kingwills Raised over RMB100 Million in B Round Financing
05/29
On May 18th, Jiangsu Kingwills™ Advanced Materials. Co., Ltd. (hereinafter referred to as Kingwills™), a portfolio of Asia Green Fund, announced the completion of the B round financing of over RMB100 million. This round is jointly led by China National Building Materials Fund and GPRO Investment, participated by Shaanxi Coal Investment, Rivertown Capital, and existing investors GL Ventures and Oriental Yuhong. Taihe Capital acts as a long-term exclusive financing consultant. The fund will go towards expanding the production line, strengthening the supply chain system, and building a top-talent team.
Flashspun Hypak™ has excellent performance, a wide application range, and high commercial value. This technology and large-scale production capacity have been monopolized for a long time so it has become a scarce material with a high demand in the world. Flash-spinning metamaterials have the characteristics of being waterproof, breathable, antibacterial, cleanable peeling and durable, etc. There is a wide range of application scenarios in the global building energy saving, medical packaging, safety and protection, industrial innovation, and consumer goods fields.
To break the monopoly of this technology, after nearly 10 years of hard independent R&D, Kingwills™ realized its independent innovation in technology, craft, and equipment, and successfully achieved large-scale mass production of flash spinning metamaterials in 2022, which solved the "containment" problem of China. In the past year, Kingwills™ officially put into the first 3000-ton production line, and its order has been placed in 2024, which is also the largest flash-spinning metamaterials production line in China.
Flashspun Hypak™ has excellent performance, a wide application range, and high commercial value. This technology and large-scale production capacity have been monopolized for a long time so it has become a scarce material with a high demand in the world. Flash-spinning metamaterials have the characteristics of being waterproof, breathable, antibacterial, cleanable peeling and durable, etc. There is a wide range of application scenarios in the global building energy saving, medical packaging, safety and protection, industrial innovation, and consumer goods fields.
To break the monopoly of this technology, after nearly 10 years of hard independent R&D, Kingwills™ realized its independent innovation in technology, craft, and equipment, and successfully achieved large-scale mass production of flash spinning metamaterials in 2022, which solved the "containment" problem of China. In the past year, Kingwills™ officially put into the first 3000-ton production line, and its order has been placed in 2024, which is also the largest flash-spinning metamaterials production line in China.
Mr. Boyi Chen, Founder, and CEO of Kingwills™, indicated that "customer first" is the core value and "becoming the most creative new material enterprise" is the initial aspiration of Kingwills™. Therefore, the company has attracted many elite talents from famous universities at home and abroad, including Harvard, Max Planck Experimental Institute, Tsinghua, Peking University, etc. Our long-term goal is to start with flash spinning technology, combining it with more new materials and providing innovative material solutions for more customers.
In 2022, Kingwills™ completed A round financing of over RMB100 million, which was led-invested by GL Ventures, co-investors are Oriental Yuhong, CICC Capital, and Asia Green Fund. This round of financing has further introduced state-level new materials funds and local state-owned assets. Each party will work together to give full play to industrial synergy and resource advantages and accelerate the realization of domestic advantages of independent innovation of high-scarce materials.
Mr. Hui Guo, General Manager of China National Building Materials Fund, said: Flashspun Hypak™ is a globally scarce material, and its domestic substitution is of great strategic significance. We appreciate the core value of Kingwills™: "Create sustainable solutions for people’s better life.” and believe that Kingwills™ will continue to make greater breakthroughs in technological innovation and industrialization with its technological advantages, industrialization ability, and team entrepreneurial spirit. CNBM Fund is willing to work with outstanding enterprises like Kingwills™ to make positive contributions to accelerating the construction of a "Material Powerhouse".
Mr. Huafeng Tian, President and Founding Partner of GP Capital, said: With characteristics of "waterproof and breathable, light and durable", flash spinning metamaterials are a kind of special fiber material with excellent performance and two sets of "contradictory" characteristics. After years of technical R&D and process accumulation, Kingwills™ has successfully broken foreign monopolies and made important industrialization progress in this field. This product can be widely used in safety protection, building energy saving, medical packaging, industrial innovation, creative life, and other fields, with broad and diverse market prospects.
Mr. Wenlong Li, Operational Director, said that Kingwills™ has an excellent senior management team with rich industrial experience, profound R&D skills, and lean production capacity. We are optimistic about the company's future, to further strengthen its core competitive advantages and help with green and sustainable development.