Another Chinese company has filed to go public on the American market this week, this time it’s Ehang.
Ehang, which makes autonomous aerial vehicles, filed paperwork with the Securities and Exchange Commission to go public on the Nasdaq.
The company lists a $100 million raised in its IPO documents, a standard placeholder figure meant to help investors gauge the possible size of the offering.
As a private company, Ehang raised $52 million in known venture capital, with its most recent round being a Series B in August 2015.
Ehang’s F-1 filing does note that the company has “unfilled purchase orders for 28 passenger-grade AAVs.”
With $5.8 million in operating cash burn in the first half of 2019 you can see why the firm is raising more capital through an IPO.
Ehang raised several known rounds (Crunhbase has previously mentioned notes on its Series A and Series B).
The company notes in its filing that it intends to use its net IPO proceeds to fund its operations (research and development and sales and marketing) “expanding production capacity,” and “developing urban air mobility solutions, such as passenger air mobility services and urban air logistics services, and ”general corporate purposes.”