AVATR Technology Secures RMB 11.1 Billion in C-Round Financing, Eyes Global Expansion and Hong Kong IPO
AVATR Technology has secured RMB 11.1 billion in its C-round financing, despite reporting a net loss of RMB 4.02 billion in 2024. The company, aiming to expand globally, plans to enter more than 80 countries by 2030 and is considering a Hong Kong IPO in late 2025.
AVATR Technology's revenue surged by 172% in 2024, reaching RMB 15.35 billion. Despite the significant loss, the company is pressing ahead with ambitious plans. It aims to launch five upgraded models by 2026, indicating a focus on innovation and growth. AVATR Technology's global expansion strategy is set to accelerate, with plans to enter over 80 countries in the next seven years. The potential Hong Kong IPO, slated for the fourth quarter of 2025, could provide the necessary capital for these ventures.
AVATR Technology's latest financing round and expansion plans signal confidence in its future growth, despite recent losses. The company's focus on innovation and global expansion could position it for significant growth in the coming years, with a potential IPO in Hong Kong on the horizon.
