Focusing on the electrification, intelligence and unmanned operation of agricultural machinery, "Zhishen Hehang" has received tens of millions of angel round financing | First released by 36Kr.
Written by Wu You
Edited by Wang Fangyu
36Kr has learned that Shenzhen Zhishenhehang Technology Co., Ltd. (hereinafter referred to as "Zhishenhehang") has recently successfully completed an angel round of financing of tens of millions of RMB. This round of financing is jointly invested by K2VC and Kunzhong Capital, and the funds raised will be mainly used for product research and development, talent recruitment, and market expansion.
Zhishenhehang was established in 2023, focusing on the field of new energy equipment manufacturing. Currently, the company has launched its first highly intelligent new energy "Zhihé (Cybertractor)" brand pure electric tractor. The product can be optionally equipped with the "Hexing" AI autonomous driving system that enables unmanned driving functions in field operations, and has reached strategic cooperation intentions with multiple customers.
At a time when the world is embracing carbon neutrality, the agricultural machinery industry is beginning to rapidly enter the electric era. Data from Acumen Research indicates that the global agricultural machinery market reached $200 billion in 2022 and is expected to grow to $485.7 billion by 2032. Among them, the electric tractor with a combination of new energy and unmanned driving has undoubtedly and inevitably become a major focus and hotspot.
"With the decrease in battery costs and the increase in energy density, new energy technology is gradually expanding from passenger vehicles and electric trucks to non-road areas, especially in the application of agricultural machinery. Since 2022, the electrification process of agricultural machinery has gradually unfolded, significantly reducing operating costs and labor costs," Chen Yongjun, the founder of Zhishenhehang, told 36Kr.
Compared with traditional tractors, the electric tractor of Zhishenhehang has a higher degree of intelligence, equipped with a variety of sensors and a multi-level intelligent control system, which can realize functions such as autonomous driving, intelligent recognition, and precise positioning. The modular design can also flexibly configure different tools and accessories according to different agricultural production needs and operating environments, ultimately effectively improving the production efficiency and sustainability of agriculture.
The new energy tractor products of Zhishenhehang have self-learning ability, self-operating system, remote operation and maintenance ability, self-PTO power distribution ability, EMS energy management system, etc. The products also fully consider the driving experience and operating environment, with low noise, small vibration, and a scientifically ergonomic designed cab and control system, which greatly improves the driving comfort.
The electric tractor product of Zhishenhehang Source: Authorized by the enterprise
Chen Yongjun introduced that using pure electric tractors to replace traditional tractors can save 50% - 70% of the comprehensive operating costs, and also save several thousand yuan in maintenance costs. Autonomous driving will also greatly save the labor cost of the driver and reduce the labor intensity of the driver, making driving a tractor from a chore to a pleasure.
"Zhishenhehang is dedicated to creating high-quality and high-tech 'double high' products for users, truly helping the peasant group to reduce costs and improve efficiency, and helping farmers make money and make more money through agricultural production more easily," Chen Yongjun said.
The key technologies of electric agricultural machinery have similarities with those of electric vehicles, but at the same time, there are also specific technical barriers. The application conditions of passenger vehicles and trucks are mainly urban roads and highways. In addition to fulfilling the most basic driving functions, agricultural machinery also needs to adapt to complex operating conditions such as different soil types, different crop varieties, and different operating processes. This requires manufacturers to have a deep Know-how and technical precipitation in the field of agricultural machinery, as well as a deep understanding of the needs of industry customers in different regions, crops, and models.
Chen Yongjun, the founder of Zhishenhehang, once worked as a senior technical management personnel in the globally leading agricultural machinery group FENDT in Germany. After returning to China, he has served as the vice president, executive president, and president of several large agricultural machinery and construction machinery groups. He has also served as the deputy director of the Chinese Tractor Academic Committee for many years and is a technical expert for the National 13th Five-Year Plan. He has rich industrial operation experience in the fields of intelligent equipment manufacturing and artificial intelligence, and is also one of the few experts in the industry with an international background. He is also a senior chartered certified accountant of ACCA in the UK, with rich experience in investment, financing, and mergers and acquisitions.
In terms of the team, Zhishenhehang currently has a luxurious R & D and operation team in the industry. The core team members all have many years of working experience in well-known domestic and international enterprises in the fields of construction machinery, agricultural machinery, and new energy vehicles in China, Germany, Japan, etc. In addition, the team has many chassis transmission technology experts and electronic control experts from overseas, such as Germany, as a strong remote technical support, and the internationalization degree of product research and development, manufacturing, and operation is very high.
The field operation of the electric tractor of Zhishenhehang Source: Authorized by the enterprise
"In the oracle bone inscriptions, the original character of 'electricity' is the character 'Shen', which is like a thunderbolt and lightning expanding in all directions. Zhishen in ancient language is referred to as electricity, and the company will take electrification as the core driving force of technology," Chen Yongjun told 36Kr. The goal of Zhishenhehang is to become the global agricultural machinery equipment company with the highest technical level and the largest scale, focusing on creating an agricultural robot operating platform with electric agricultural machinery as the carrier, allowing traditional machinery and new agricultural operating robots to be perfectly unified and connected to this platform, and striving to create a Tesla in the field of agricultural machinery intelligent equipment and robots.
In the next one to two years, Chen Yongjun said that Zhishenhehang will expand the team size, expand the new product series, improve the product applicability, and contribute to the electrification and intelligentization process of the agricultural machinery industry in China and even the world.
Investor Views:
Zhao Yang, the managing partner of K2VC, said: "The global trend of new energy and intelligence is becoming increasingly obvious. As the most valuable integrated link in the ecological chain of agricultural machinery categories, the tractor, combined with the scale and cost advantages of China's EV industry, gives Chinese enterprises the opportunity to overtake at a curve and define products and categories. The founding team of Zhishenhehang, especially the founder Mr. Chen Yongjun himself, has been deeply involved in the domestic and foreign agricultural machinery main engine track for many years. K2VC is very optimistic about their technical strength and execution ability in the professional field, and also looks forward to working with them to contribute to enhancing the influence of China's new energy industry."
Wang Guanfei of Kunzhong Capital said: "Mr. Chen Yongjun, the founder, is an international expert with rare full overseas industry experience among the senior executives of large equipment manufacturing groups in the industry. Relying on the deep accumulation in new energy technology and intelligent control fields, Zhishenhehang has launched an innovative electric tractor product and agricultural robot operation platform, which not only responds to the global carbon neutrality trend, but also can bring disruptive changes to the agricultural machinery industry. Kunzhong looks forward to working closely with the team to help the company achieve the long-term goal of becoming a leader in the global agricultural machinery intelligent equipment and robot field."