Emerging perovskite solar startup Yongjia Solar Energy has closed a seed round, with Linear Capital as the sole investor.

Recently, Yongjia Solar Energy, an emerging perovskite photovoltaic R&D company, completed its seed funding round, with Linear Capital as the sole investor. The funds will primarily be used to build out the company's basic R&D platform and expand its team, laying groundwork for subsequent large-scale production line construction.

Founded in September 2023 by Wuhan University alumni, Yongjia Solar Energy is a technology company focused on stable and efficient monolithic multi-junction integrated perovskite solar cell technology. The company has established operations in Jiangyin and built a first-class industrial R&D platform. Multiple members of its technical team have extensive research experience in internationally top-tier research groups, with publications in Science, Nature, Nature Energy, Nature Nanotechnology, Nature Communications, Science Advances, and other leading journals. The company's perovskite cell stability, single-junction device efficiency, and all-perovskite tandem cell efficiency have long ranked among the world's best.

Currently, mainstream crystalline silicon photovoltaic technology is approaching engineering limits for efficiency gains and cost reduction. Achieving future dual-carbon strategic goals will require more efficient, cleaner, and lower-cost photovoltaic technologies. In recent years, perovskite photovoltaic technology has rapidly become a focal point in both academia and industry due to its substantial potential for efficiency improvements and cost reduction. Compared to crystalline silicon, perovskites offer numerous advantages: as direct bandgap semiconductors they require less material and lower purity, have higher theoretical photoelectric conversion efficiency limits, offer strong material design flexibility, provide significant weak-light generation gains, are compatible with tandem architectures, can be made flexible, and involve lower capital investment and energy consumption in manufacturing. The key challenge currently preventing large-scale commercial deployment of perovskite photovoltaic technology is how to substantially improve device stability from the ground up while pushing past single-junction efficiency limits.

Yongjia Solar Energy is committed to addressing these industry bottlenecks through fundamental materials and structural innovation, substantially improving device stability and continuously pushing the boundaries of device efficiency. The company aims to achieve technical goals of monolithic multi-junction integration in processing and the combination of ultra-high stability with ultra-high efficiency in performance, providing a distinctive, well-rounded technical solution.

To date, the company has achieved single-junction perovskite cell PCE > 26% and all-perovskite tandem cell PCE > 27% in device efficiency, along with device continuous light-soaking stability > 6,000 hours.

With this funding round complete, Yongjia Solar Energy will continue with its open platform culture, recruiting outstanding R&D and engineering talent globally, and working alongside industry and academic partners to jointly advance the field.

Yifei Li, Investment Director at Linear Capital, stated: "Perovskite solar cells represent a disruptive next-generation photovoltaic technology. Compared to existing photovoltaic technologies, they offer advantages including high theoretical conversion efficiency, short production cycles, and low costs, but issues with stability and scaling processes have constrained rapid industrialization. Yongjia Solar Energy's founder has been deeply engaged in the perovskite photovoltaic field for over a decade, achieving technical goals of combining high stability with high efficiency through continuous breakthroughs in materials, cell architecture, and processes. The team holds leading advantages in core materials and device design, and possesses both single-junction perovskite and all-perovskite tandem cell technologies. We are optimistic about Yongjia Solar Energy's technical capabilities and industrialization potential in the perovskite space, and hope that Linear Capital and the Yongjia Solar Energy team can together make positive contributions to the development of the perovskite photovoltaic industry."

About Linear Capital

Linear Capital is an early-stage investment firm focused on "frontier technology + industry" directions, namely frontier technologies represented by data intelligence, digital new infrastructure, next-generation robotics technology, and new technological transformations in traditional sectors (such as biomedicine, materials, energy, etc.), applied across vertical industries to substantially improve industrial efficiency, empower solutions to pain points, and complete industrial upgrading—achieving excess returns through substantial increases in industrial value. The firm currently manages ten funds with total assets under management of approximately $2 billion.

Our investment stage focuses primarily on leading angel to Series A rounds, with typical investment amounts of $3 million to $8 million or RMB equivalent per project.

To date, Linear Capital has made early investments in over 120 entrepreneurial teams including Horizon Robotics, Kujiale, Sensors Data, Tezign, Rokid, Guandata, Agile Robots, and others. The combined valuation of Linear Capital's portfolio companies is approximately $20 billion.

In the near term, Linear Capital is working to become the premier "Data Intelligence Technology Fund," and over the long term aims to gradually build itself into the most influential "Frontier Technology Application Fund."