Recently, the electrochromic technology leader Ambilight Inc has announced its Series C round of financing, raising hundreds of millions of dollars.

This round was led by Warburg Pincus, with Pagoda Innovation and Cygnus Equity as participant investors. BYD and NIO Capital also invested in the round as strategic investors. Earlier this year, Ambilight secured tens of millions of dollars in Series B round led by Matrix Partners and CPE.

HGC Capital has been supporting Ambilight since its B-2 round.

Established in 2017 Silicon Valley, Shenzhen, and Indiana, Ambilight focuses on the research and production of dynamic electrochromic thin film, and has accumulated numerous patents, spanning from ground-breaking electrochromic materials, solid-state-electrolytes, innovative optical film processing to ultra-precise manufacturing technics.

Ambilight is now recognized as a National High-tech Enterprise with mass production and market application abilities.

In 2020, the world’s first commercial mobile device with EC technology, OPPO Reno5 Pro + hit the market with Ambilight’s technology. The phone case is able to change colors with a tap on the back.

For Chinese electric vehicle (EV) makers, it has become an increasingly common to have EC materials for their new cars. In Aug this year, Geely's premium EV brand Zeekr unveiled its first model Zeekr 001 with Ambilight’s EC roof option for customers. The roof can adjust sunlight and temperature, as well as eliminate glare. NIO Capital and BYD’s investment on Ambilight may open up more possibilities in the future application of EC materials in vehicles.