Yinshi New Materials completed an angel round of financing worth tens of millions of yuan.

36Kr learned that recently, "Yinshi New Materials" completed an angel round of financing worth tens of millions of yuan. This round of financing was led by Ruicheng Fund, the corporate venture capital (CVC) platform of Chery Group. Vertex Ventures, a venture capital institution under Temasek, and Guokong Investment Company under Anhui State-owned Capital Operation and Holding Group participated as follow-on investors. Xiaomi Strategic Investment continued to increase its investment. The funds raised in this round will be mainly invested in capacity expansion and technological iteration.