Shanghai (ZXZC)- Changzhou CTW Electronics Co., Ltd. (“CTW”), a Chinese supplier of connectors, antennas and cable assembly products, recently closed its Series A financing with tens of millions of yuan raised, according to a post on the company's WeChat account.

The fresh round was led by Bondshine Capital and also attracted CHIPAI Capital.

The proceeds from the funding round will be used for talent recruitment, R&D, upgrade for automated production, and other businesses, so as to further strengthen the company's industrial competitiveness and expand market share, according to Li Yanhong, founder of CTW.

CTW's 5G-enabled combination wire harness; photo credit: CTW

Founded in 2013, CTW is dedicated to providing one-stop solutions for industrial and automotive connected systems. It is capable of independently developing and manufacturing high-performance connectors (including industrial connectors, photovoltaic connectors, and high-voltage connectors for automobiles), wire harnesses (including industrial and automotive wire harnesses), as well as a variety of antennas, some of which are used for vehicle-mounted navigation system.

CTW's high-voltage connectors are mainly applied in battery packs, high-voltage distribution boxes, electric motor controllers, and electric motors of new energy vehicles (NEVs).

The company recently obtained orders from a foreign NEV manufacturer to supply its high-voltage cable harnesses, said Li Yanhong.

Besides, the company's 5G-enabled antennas have been supplied to carmaker clients like XPeng and SAIC Motor.