Neng Lian Tech closes RMB900m Series D round by CICC and Xiaomi

Chinese digital energy service provider Neng Lian Tech recently announced the completion of the Series D round of financing of 900 million yuan, led by the sub-fund of CICC, with participation from Xiaomi Technology.

Chinese digital energy service provider Neng Lian Tech recently announced the completion of the Series D round of financing of 900 million yuan, led by the sub-fund of CICC, with participation from Xiaomi Technology.

The company’s Series C round investors including Joy Capital, KIP China, Nio Capital. China Renaissance served as the sole financial advisor.

With the completion of this round of financing, Neng Lian Tech has raised the largest amount of capital in the digital energy sector, and becomes the first company in the sector to secure a Series D round.

Established in 2016, Neng Lian has built an integrated fuel and electricity service network covering more than 1,700 cities, providing services to nearly 400 million car owners. Neng Lian’s SaaS providesSaaS services for more than 10,000 gas stations.

After completing this round of financing, Neng Lian claims that the company will upgrade its new strategy and launch the Neng Lian cloud business.Through the introduction of SaaS, AI and EIoT technologies, a big data cloud system is built to help gas stations, charging stations to upgrade brands.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/15/neng-lian-tech-closes-rmb900m-series-d-round-by-cicc-and-xiaomi/.

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