Shanghai (ZXZC)- On September 25, Chinese auto parts supplier Shanghai SDRIVE Technology Co., Ltd. ("SDRIVE") announced the successful completion of a Pre-A+ funding round, securing tens of millions of yuan.

This marks the company's third funding round in its two-year history, accumulating nearly 100 million yuan in total.

This latest round of funding was led by Kexing Kechuang Equity Investment, Solid Wood Investment, and Nuo Yan Capital, with Bridge Capital as a co-investor, and ET Capital continuing to serve as a long-term financial advisor.

The primary allocation of funds from this round will be dedicated to the market expansion and production delivery of SDRIVE's second-generation integrated eight-in-one SDS (One Box) product.

Photo credit: SDRIVE

Founded in September 2021, SDRIVE is headquartered in Jiading District, Shanghai, and has primarily focuses on the R&D, manufacturing, and sale of core components, software, and hardware solutions for air suspension systems.

The core team members at SDRIVE are graduates of renowned domestic and international universities such as Tsinghua University, Peking University, Tongji University, Harbin Institute of Technology, and the University of Stuttgart in Germany. They have previously worked with leading domestic automakers and Fortune Global 500 component companies, specializing in R&D, production, marketing, and operation of automotive air suspension systems, integrated eight-in-one SDS (One Box), and controllers, according to the company’s introduction.

Automotive suspension systems act as crucial linkages between a vehicle's body and its wheels, primarily responsible for transmitting forces like support, braking, and steering while reducing the impact of rough roads and absorbing vibrations generated by wheel movement. This ensures a comfortable ride for passengers and minimizes cargo transportation losses. Compared to traditional suspension systems, air suspension systems are more stable and comfortable, and they find extensive applications in the high-end passenger car and commercial vehicle sectors.

With the acceleration of core component localization, the expansion of production capacity by domestic automakers, and an increasing range of compatible models, the cost of air suspension systems is anticipated to significantly decrease. SDRIVE forecasts that the average per-vehicle price of air suspension systems is poised to drop by over 30%.

As one of the earliest companies in China to focus on air suspension products, SDRIVE has always been committed to providing an enjoyable and comfortable driving experience, venturing into software products related to air suspension and offering integrated eight-in-one SDS (One Box) solutions, said the company.

To date, SDRIVE has successfully developed first-generation control products for air springs, multi-chamber air springs, semi-active dampers, and magnetorheological dampers, as well as second-generation integrated SDS (One Box) products. It has established an advanced production line with an annual capacity of 500,000 sets and secured production orders from leading domestic automakers to be well-prepared for successful production and delivery.