Sequoia China has made a 150 million yuan exclusive investment in Zhang Xue Motorcycle, resulting in a post-investment valuation of 6 billion yuan. Over just two years, the company's valuation has skyrocketed by 60 times. The company recently announced the completion of this new funding round, with specific transaction terms undisclosed. Following the investment, the two parties will collaborate deeply on corporate governance, talent development, industrial resources, and global expansion. It is reported that Zhang Xue Motorcycle generated 670 million yuan in revenue last year, with expectations to reach 2 to 2.5 billion yuan this year, representing more than a twofold increase. On the production front, monthly deliveries have exceeded 10,000 units.

Two Years, 60x Valuation

According to data from Xiniu, in July 2024, Gaoxin Capital invested 20 million yuan in an angel round, valuing the company at 100 million yuan. In January 2026, Zhejiang Venture Capital led a 90 million yuan Series A round, bringing the valuation to 1.09 billion yuan. Cao Bin, Chairman of Gaoxin Capital and an angel investor in Zhang Xue Motorcycle, previously disclosed that in the latest funding round, Sequoia Capital invested 150 million yuan, resulting in a post-investment valuation of 6 billion yuan. Over two years, the valuation has jumped from 100 million to 6 billion yuan, a 60-fold increase. Zhang Xue Motorcycle has now become a quasi-unicorn in the motorcycle sector.

Sequoia's Two-Wheeler Puzzle

This is not the first time Sequoia has invested in the motorcycle and two-wheel mobility sector. According to Xiniu data, in June 2025 and January 2026, Sequoia made two consecutive investments in the smart electric motorcycle startup OMOWAY. In July 2025, they led a funding round for Xunlu Innovation, a manufacturer of cargo electric assist bicycles. Earlier, Sequoia also invested in companies such as Sanshou Technology, Lingyun Smart, NIU Technologies, and Segway-Ninebot. Looking at these investments together, Sequoia is not betting on a single venture but is placing strategic bets across different categories, price points, and scenarios, including electric motorcycles, cargo assist bikes, and electric two-wheelers. With the addition of Zhang Xue Motorcycle's performance-oriented motorcycles, Sequoia's puzzle in the "two wheels" sector is now largely complete.

Grassroots Breakout: The Rise of Domestic Industry

The story of Zhang Xue Motorcycle is rare in the venture capital circle—a grassroots entrepreneur without a glamorous background, breaking through obstacles with performance motorcycles and achieving a solid victory. More data on Zhang Xue Motorcycle is detailed in the chart below, interpreted by the Xiniu Xianjian AI assistant.