Zhongneng United completes C1 round financing from State Power Investment Industry Fund

On August 3, Zhongneng United, a service platform for construction machinery and equipment, announced the completion of the C1 round of financing.
This round of financing was invested by the State Power Investment Industry Fund with a background of central enterprises.

On August 3, Zhongneng United, a service platform for construction machinery and equipment, announced the completion of the C1 round of financing.

This round of financing was invested by the State Power Investment Industry Fund with a background of central enterprises.

The funds will be used for the digital transformation of the entire industry chain of the engineering equipment industry, service network construction and talent recruitment, so as to promote the company’s long-term sustainable and rapid development.

Zhongneng United Digital Technology Co., Ltd. is a construction machinery and equipment service platform that have digital-driven operations and technology to empower the industry’s whole industry chain trading system.

At present, it has built a service network covering 25 provinces, 4 municipalities, 300 prefecture-level cities, and 1,200 districts and counties across the country, and has served more than 30,000 customers.

Yang Tianli, founder and CEO of Zhongneng United, said that Zhongneng United has built a complete equipment life cycle management system, life cycle customer service system, and whole-chain online closed-loop trading IT system, through more than 4 years of commitment to high-end equipment.

While the company has built an industry-leading advantage, its asset operation efficiency has steadily improved.

Zhongneng United has maintained stable large-scale profits for three years and will choose an opportunity to land in the capital market in the future.

Financings:

In July 2018, it received tens of millions of RMB Pre-A round of financing from Santa Kinda Investment

In September 2018, it received 60 million yuan in Series A financing from Buhuo Ventures

In April 2019, it received the lead investment from Source Code Capital, and Buhuo Ventures will invest 50 million US dollars in Series B financing

In June 2019, it received RMB 150 million in Series B+ financing from FocusStar Capital from Fivestar Holdings

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/04/zhongneng-united-completes-c1-round-financing-from-state-power-investment-industry-fund/.

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