Kingwills™, With The Industry Trend Guided, Landed More Than 100 Million Yuan In Series B Funding
May 19, 2023
YANGPU, China - May 19, 2023 - PRLog -- On May 18th, Kingwills Advanced Materials Co., Ltd. (hereinafter referred to as KingwillsTM) announced to complete the B round financing of more than 100 million RMB. This round of financing is jointly led by China National Building Materials Fund and GPRO, together with Shaanxi Coal, Oriza and TAIHECAP. GL Ventures and Oriental Yuhong, the lead investors in the A-round, continue to provide support. TAIHECAP also serves as the exclusive long-term financial advisor. This round of fundraising is intended to expand production lines, strengthen the supply chain system, and build a top-notch talent team.
KingwillsTM previously completed a Series A funding round exceeding 100 million RMB in 2022, with participation from GL Ventures, Oriental Yuhong, CICC Capital, Asia Green Fund and so on, becoming a star advanced materials company that combines top financial funds and industrial clients' investments. The Series B funding further introduced national advanced materials funds and local state-owned assets. In the future, multiple parties will work together to leverage industrial collaboration and resource advantages, KingwillsTM will speed up its advantages of independent innovation of scarce materials.
As China's leading flash-spun metamaterial enterprise, KingwillsTM has officially launched its first 3,000t production line in the past year, which is also the largest flash-spun metamaterial production line in China. It has facilitated HypakTM (flash-spun metamaterial) delivery to important strategic customers in medical packaging, building envelopes, industrial and consumer goods innovation and other industries. The product quality has received widespread acclaim, and orders have been booked until 2024.
Flash-spun metamaterial has excellent properties, a wide application range and high commercial value. Flash-spun metamaterial is characterized with strong waterproof, air permeability, light weight, high strength, bacteria resistance and high cleanliness, and has nearly 100 mature application scenarios in medical packaging, building envelopes, safety protection, industrial packaging, consumer goods and other fields.
Chen Boyi, founder & CEO of KingwillsTM, stated that "customer first" is the core value of KingwillsTM, and "becoming the most creative advanced materials enterprise" is the original intention of KingwillsTM team. Therefore, the company has attracted many elite talents from famous universities at home and abroad, including Harvard University, Max Planck Institute, Tsinghua University, Peking University and Zhejiang University. Starting from flash-spun technology, together with more advanced materials, KingwillsTM provides innovative material solutions for more customers. This serves as the long-term goal of KingwillsTM.
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