Beijing (ZXZC)- Electrochromic technology developer Ambilight Inc today announced that it has completed the Series C round financing, through which it managed to raise hundreds of millions of dollars.

The latest round was led by Warburg Pincus, with Pagoda Innovation and Cygnus Equity as participant investors. BYD and NIO Capital also invested in the round as strategic investors. Earlier, Ambilight secured tens of millions of dollars in Series B round led by Matrix Partners and CPE.

The company, founded in Silicon Valley, Shenzhen, and Indiana in 2017, will use the proceeds to study and develop new products as well as production capacity expansion and global commercialization.

Photo credit: Ambilight 

In the four years ever since its establishment, it has transformed into a high-tech company which can realize scale production and market application. During the period, it has accumulated numerous patents, spanning from ground-breaking electrochromic materials, solid-state-electrolytes, innovative optical film processing to ultra-precise manufacturing technics.

Ambilight now provides products ranging from automobile rearview mirror, sunroof, and side window, to façade, ski goggles. According to the company’s website, it is the first company across the world to propose automotive sunroof solutions. It says that adjusting intelligently the light entering the vehicle via electrochromic technology can better meet the demands of various scenarios. Its products have been applied to several Chinese automakers’ vehicles.