Byton (company)

Byton is a company manufacturing an electric SUV that is headquartered in Nanjing, China and was founded in 2016 by Carsten Breitfled and Daniel Kirchert. The company is developing a luxury electric SUV called the M-Byte. In 2018 the company took over a subsidiary of FAW operating out of Tianjin Huali, China.

Funding

Series B

On June 11, 2018 Byton completed their series B funding round with $500 million in funding from FAW Group, Tus-Holdings, CATL, and other investors. The company plans on using the funding to help bring its first electric vehicle to market. The co-founder and president of Byton, Daniel Kirchert, made the following comment regarding the companies series B funding round:

The success of this funding round highlights how diversified strategic investors will further expand BYTON’s circle of friends and broaden our development opportunities. BYTON is establishing a new benchmark for auto start-ups with four essential ‘must haves’, namely Technology, Product, Capital and Factory.

Venture

On May 9, 2019 Byton completed a venture capital funding round with $100 million in funding from FAW Group and other investors.