China-based power bank provider Energy Monster has completed a $30m series C round that included smartphone maker Xiaomi, China Money Network has reported.
Private equity firm New Horizon Capital, Hillhouse Capital and Shunwei Capital also contributed to the round, as did Gan Jiawei, formerly chief operating officer of local services platform Meituan Dianping.
Energy Monster has developed table chargers that can be installed in restaurants, bars and shops, as well as portable charging points that users can rent to charge their mobile devices. It will use the cash for marketing, to incubate new businesses and to develop new products.
Investment holding company China Reform Holdings led a $30m series B round for Energy Monster in November 2017 that also featured Shunwei Capital, Bluerun Ventures, Sky9 Capital, Hillhouse Capital and Crystal Stream Capital.
The company had secured an eight-figure renminbi (RMB10m = $1.45m) amount from Xiaomi, Shunwei Capital and Hillhouse Capital in April 2017, before adding $14.7m in a series A round featuring Hillhouse, Crystal Stream Capital and GF Xinde Investment Management three months later.