TSUNESS Co Ltd, a Chinese company specializing in solar kits, microinverters, and energy storage solutions, has successfully raised over CNY 150 million (USD 21 million / EUR 19 million) in a Series B funding round. The financing initiative, spearheaded by IDG Capital, aims to fortify TSUNESS's capabilities in automated production lines, expand production capacity, and drive technological advancements.
Established in 2019, TSUNESS is actively involved in research and development within the solar photovoltaic (PV) industry. The company's product portfolio includes the TITAN series, featuring high-power single-phase microinverters, and other offerings such as the Gen3 and Gen3 Plus, covering power ranges from 300 W to 3,000 W.
This recent funding round follows a prior investment from Hidden Hill Capital in February, with the newfound capital earmarked for enhancing supply chain development and the expansion of local and international business channels, according to a statement from TSUNESS.
In line with its growth strategy, TSUNESS is gearing up to commence the construction of a self-owned facility spanning 50,000 square meters, equipped with automated production lines. The project, supported by Suzhou High-Speed Rail New City, is slated for completion in 2025 and is projected to result in a substantial 500% increase in production capacity. The move aligns with TSUNESS's commitment to meeting the escalating demand for its solar technology products while incorporating advanced production methods.