# Enovate funding: rounds and investors

> Enovate has raised $304M across 2 rounds since 2019. Investors include Elevation Capital. Every round with its source.

Source: https://millionrounds.com/company/enovate (Millionrounds; every figure on the page links to its filing or article)

China · [Series A startup](https://millionrounds.com/companies)

# Who invested in *Enovate*

2 rounds we have observed, with the one investor named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Advertising & Adtech Logistics

Valuation: $1.9B, Mar 2026

Funding summary Updated 26 Oct 2026

**$304M** raised across 2 rounds since 2019, from 2 sources

**$298M** Series A **$5.6M** Series A

- **Latest round:** Series A, $5.6M Jan 2020
- **Biggest round:** $298M Series A · Apr 2019
- **Investors:** 1

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2020

**$298M** Series A

**$5.6M** Series A

- **First round:** Series A, $298M
- **Biggest round:** $298M
- **Between rounds:** 9 months

## The rounds

- **Jan 2020** Series A **$5.6M** *1 new* [Elevation Capital](https://millionrounds.com/fund/elevation-capital-2) Source recorded
- **Apr 2019** Series A **$298M** No investor was named in the report. Reported by AVCJ

## Everyone who backed them

[Elevation Capital](https://millionrounds.com/fund/elevation-capital-2) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=enovate).

## Quick answers about Enovate

### Who invested in Enovate?

Enovate's investors include Elevation Capital.

### How much has Enovate raised?

Enovate has raised $304M across 2 rounds since 2019.

### When did Enovate last raise?

Enovate's most recent round was a Series A of $5.6M in Jan 2020.

### What was Enovate's biggest round?

Enovate's largest round on record is $298M (Series A), in Apr 2019.

### Who backed Enovate first?

Enovate's first round on record, in Jan 2020, was backed by Elevation Capital.

### What stage is Enovate at?

Enovate's latest named round is a Series A, in Jan 2020.

### Where is Enovate based?

Enovate is based in China.

## Companies like Enovate

In the same sector, and raised in the last eighteen months.

[**Xpeng Motors** $2.4B · Aug 2025](https://millionrounds.com/company/xpeng-motors)[**EngineAI** $139M · Jul 2025](https://millionrounds.com/company/engineai)[**Chengrui Power Technology** May 2025](https://millionrounds.com/company/chengrui-power-technology)[**Amogy** $125M · Oct 2026](https://millionrounds.com/company/amogy)[**Xona** $512M · Oct 2026](https://millionrounds.com/company/xona)[**Remolonas** $35K · Oct 2026](https://millionrounds.com/company/remolonas)

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