Xpeng leads EV-focused Rockets Capital’s $200 million funding round

Rockets Capital has raised more than $200 million from investors.

Rockets Capital is a fund focused on investments in the smart energy vehicle (EV) supply chain.

The investors in the funding round included Xpeng, Sequoia China, IDG Capital and GGV Capital.

The round’s strategic anchor investor was electric vehicle manufacturer Xpeng, Rockets Capital said in a statement.

eGarden and 5Y Capital were among other investors.

Rockets Capital, which was established early this year, said it would operate independently of Xpeng but would leverage the Chinese carmaker’s industry expertise and resources.

The fund also said it had already entered into agreements to invest in several leading enterprises in its target industries, without disclosing further details.

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