Code Mark | Energy Storage Company "Poweroak" Completes Multiple Consecutive Funding Rounds, Source Code Capital Leads Two Rounds and Continues to Increase Stakes
Global independent brands, bringing energy storage into every home.
#CodeMoment Key Updates from Source Code Capital and MaHui Members
Recently, Poweroak, a leading energy storage company based in Shenzhen, completed its latest funding round. Since 2021, Poweroak has closed multiple consecutive financial and strategic funding rounds, raising several hundred million RMB in total. Investors include Source Code Capital, Chinalco Zhejiang Junrong Fund, Kunpeng Guangyuan, Fortune Venture Capital, and prominent strategic partners within the industry. Source Code Capital led the company's A+ and B+ rounds and continued to increase its stake in subsequent rounds.
Founded in 2013, Poweroak focuses on the user-side energy storage market. Its consumer energy storage brand, BLUETTI, sells products in over 70 countries and regions worldwide. BLUETTI derives from BLUE (sky), Technology, Tomorrow, and Innovation — reflecting the company's mission. Its three main product lines — portable energy storage, residential energy storage, and commercial energy storage — are all developed and manufactured in-house.
As the pioneer that defined the portable energy storage category, Poweroak founder Xiangzhu Yin demonstrated sharp commercial instincts as early as 2010, predicting the massive market potential of energy storage and leading his team to develop the world's first lithium-ion portable power station, the PS10B.
In 2020, Poweroak launched its global brand strategy with the official debut of BLUETTI. Its flagship 2kWh portable power station, the AC200, broke new ground by delivering portable form factor with higher power capacity, greater energy density, longer cycle life, and support for more complex distributed loads. When BLUETTI first launched on the crowdfunding platform Indiegogo, it immediately claimed the top spot in energy category fundraising.
Since then, the company has leveraged its solid power electronics capabilities and differentiated strategy to rapidly iterate its product lineup upward. The recently launched AC500 represents the ceiling of portable energy storage products, with 5kW base power, 8kW peak power, and support for up to 18kWh — enough to meet various off-grid household electricity needs.
On the residential storage front, since introducing the EP500 series in 2021, Poweroak has provided stable, efficient grid-connected energy storage products and services to thousands of overseas households. The recently launched EP600 features an expandable modular design that's easy to install and maintain, helping European households achieve "personalized customization" of their electricity usage.
While continuously launching new products, the BLUETTI brand has rapidly built a global DTC sales network within two years, along with an offline service system reaching end-installers, steadily advancing localized operations.
Poweroak maintains an R&D-driven global original technology team and complete manufacturing capabilities. All product lines handle industrial design, battery PACK, BMS, inverters, energy management, and on/off-grid integration modules in-house. The company not only leads the industry in photovoltaic-storage integration, bidirectional on/off-grid inverters, and energy internet management systems, but also continues investing in cutting-edge energy storage technologies, with R&D coverage spanning sodium-ion batteries, solid-state lithium batteries, silicon carbide, and other new material directions — shouldering the responsibility of a global original innovation team to advance energy storage technology development.
With its solid technical foundation, the company has in recent years consecutively received recognition as a National High-Tech Enterprise, Guangdong Province Specialized and Innovative Enterprise, National "Little Giant" Enterprise, and one of the 2021 "Sci-Tech China" Top 100 Emerging Technology Enterprises. It has also been designated by the Guangdong Provincial Department of Science and Technology as the "Guangdong High-End Intelligent Energy Storage Power Engineering Technology Research Center."
Poweroak CEO Xiangzhu Yin stated: "Global energy storage technology is still relatively nascent, and depends on continued efforts from industry participants to push forward. We believe energy storage technology will advance tremendously in the next five years. Poweroak has already delved into fundamental and principle-level technical domains, comprehensively improving energy storage products across four dimensions — safety, conversion efficiency, cost, and lifespan — leveraging the advantages of our global original innovation team to continuously launch breakthrough new products, laying a strong foundation for the advancement and development of the energy storage industry. I firmly believe that what we are doing has a positive impact on humanity's future and this world. Poweroak's mission is to provide clean energy for humanity. Our vision is to bring energy storage into every household."
Source Code Capital investor Di Wang commented: "Poweroak possesses a team that is extremely rare in the overseas user-side energy storage space. The company places heavy emphasis on R&D investment, efficient manufacturing, and quality control. The team has accumulated deep, long-standing expertise in DC-side cell solution definition and battery management, AC-side inverter requirements for various national grids and residential applications, and actual user energy consumption behavior — all consistent with Source Code Capital's philosophy of 'technology-driven innovation.' By combining China's advantages in supply chain, R&D, and product iteration with Poweroak's insights into global markets and localized operational capabilities, we look forward to accelerating the era of Chinese energy storage brand-building and product globalization."
CodeMoment | GalaxySpace Completes New Funding Round, Source Code Capital Invested in Pre-A Round
CodeMoment | "Sunwoda EVB" Announces Completion of Series A Round, Source Code Capital Co-Leads
CodeMoment | "ServalTech" Announces Completion of Series A Round Led by Source Code Capital
CodeMoment | VR Content Developer "FORKING" Announces Completion of Two Consecutive Rounds Totaling Tens of Millions of RMB Source Code Capital Exclusive Seed Round Investor
More Source Code Capital portfolio companies available via "Read Original"
