Shanghai (ZXZC)- Shanghai SDRIVE Technology Co., Ltd. ("SDRIVE"), a Chinese air suspension solution provider, recently announced it has closed the Pre-A round of financing with tens of millions of yuan raised.

The fresh round was led by Ivy Capital, and also attracted Fellow Partners. Light AI Cap serves as the company's long-term exclusive financial adviser.

According to SDRIVE, proceeds from the Pre-A round will be mainly used for the volume production of its One-Box products.

Photo credit: SDRIVE

Founded in 2021, SDRIVE is dedicated to the R&D, production, and sales of the core components, software & hardware, as well as system solutions of air suspension.

Taking software as its gateway, SDRIVE provides the One-Box solution that integrates both software and hardware. Under the company’s three-step product development strategy, SDRIVE’s first-generation product uses the “two-in-one” solution that combines the air spring controller and the damper controller, and the second generation has evolved into the “eight-in-one” integrated suspension, namely, the One-Box. The company expects its third-generation product to be a fully active suspension that meets the demands to emerge in the future.

Up until now, SDRIVE has received volume production orders from domestic renowned automakers for its first-generation controller product, which can be applied in air springs, multi-cavity springs, semi-active dampers, and magnetorheological dampers. In addition, it has also fulfilled the development of the second-generation product, One-Box, with an automated production line under construction.

The company is pushing ahead with the R&D of the third-generation suspension product.