Top investments in China’s power bank rental scene
Investors in China have pumped in lots of money into power bank rental startups in the last three months, but will power bank rentals be the next big thing in the “sharing economy”? Here is a summary of the top financing rounds made in this sector.
Power bank rental startup Xiaodian receives USD 51 million for Series B
Founder: Tang Yongbo
Founded in: 2016
Financing status: RMB 350 million (USD 51 million) Series B financing in 2017
Xiaodian received USD 51 million for its Series B financing round to launch its power bank rental services in 25 cities, and improve its investment in the development of technology to enhance the user experience for payment, and to try to make profit in advertisements on its power bank machines.
Power bank rental startup Mopo receives undisclosed angel round in millions of USD
Founder: Ou Yangyang
Founded in: 2017
Financing status: Angel round amounting to tens of millions in RMB (a few millions in USD) in 2017
Mopo closed its undisclosed angel round amounting to millions in USD to expand its team and develop new power bank rental outlets, and also place its power bank rental outlets in more of its partners’ stores.