TSUN Secures Over RMB 150 Million in Series B Funding, Accelerating Innovation in Photovoltaic Technology and Sustainable Energy Solutions

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SUZHOU, China, Nov. 20, 2023 /PRNewswire/ -- TSUN, a leading player in the photovoltaic (PV) industry, has recently secured over RMB 150 million in Series B funding, marking its second successful funding round in 2023.

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, November 20, 2023
Information
Tags: 
Research, Safety, Suzhou HSR New Town, IDG Capital, RMB, TITAN, Cybook Gen3, PV, Renewable energy
Geotags: 
CHINA, SOUTH AMERICA, EUROPE
⚠ partially generated by AI ↴
Organisation: 
TSUNESS, TSUNESS CO., LTD.
Summary
Key Points: 
  • SUZHOU, China, Nov. 20, 2023 /PRNewswire/ -- TSUN, a leading player in the photovoltaic (PV) industry, has recently secured over RMB 150 million in Series B funding, marking its second successful funding round in 2023.
  • The funds will also support supply chain development and the expansion of domestic and international business channels, further solidifying TSUN's influence in the PV industry.
  • Founded in 2019, TSUN is dedicated to the innovative research and development of microinverters and energy storage products.
  • In response to industry challenges, TSUN introduced the TITAN series in 2020, touted as the world's first high-power single-phase microinverter.




TSUN Secures Over RMB 150 Million in Series B Funding, Accelerating Innovation in Photovoltaic Technology and Sustainable Energy Solutions

SUZHOU, China, Nov. 20, 2023 /PRNewswire/ -- TSUN, a leading player in the photovoltaic (PV) industry, has recently secured over RMB 150 million in Series B funding, marking its second successful funding round in 2023. Led by IDG Capital and following an investment from Hidden Hill Capital in February, this funding will strategically enhance TSUN's capabilities in automated production lines, production capacity, and technological advancements in core products. The funds will also support supply chain development and the expansion of domestic and international business channels, further solidifying TSUN's influence in the PV industry.

Founded in 2019, TSUN is dedicated to the innovative research and development of microinverters and energy storage products. With a mission of "More Safety, More Power," the company aims to deliver safe and efficient PV solutions, contributing to a low-carbon and eco-friendly lifestyle.

In response to industry challenges, TSUN introduced the TITAN series in 2020, touted as the world's first high-power single-phase microinverter. This groundbreaking innovation addresses key industry pain points, combining cost-effectiveness with low voltage, high efficiency, and module-level monitoring, enhancing safety, power generation efficiency, and operations and maintenance in the PV sector.

TSUN's microinverter product lineup includes the Gen3, Gen3 Plus, and TITAN series, covering power ranges from 300W to 3000W. The company has also pioneered "household" applications of microinverters, exemplified by the Easy Solar Kit—a plug-and-play balcony solar system designed for various installation scenarios including flat ground, railings and wall mounting.

Having established collaborations with tier-one companies, TSUN facilitates channel sharing and has expanded distribution channels in rapidly growing markets such as Europe, South America, and the Asia-Pacific region. The company's subsidiaries and offices worldwide contribute to a comprehensive market operations system, sales service network, and after-sales service system, ensuring customer needs are met.

Supported by Suzhou High-Speed Rail New City, TSUN will commence construction of its self-owned facility this year. The 50,000 square meters facility, expected to be operational by 2025, will house automated production lines, resulting in a 500% increase in production capacity. In product development, TSUN aims to iterate high-power microinverters by 2024, enhancing their application in industrial and commercial areas.

Cora Su, responsible for TSUN's financing, emphasized the company's commitment to a long-term strategy. Leveraging its strengths in technology research and development, integrated innovation, and industry resources, TSUN plans to enrich its product line, accelerate iteration, establish competitive advantages, and upgrade its intelligent core, contributing to the green transformation of low-carbon energy.

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