Energy Monster, the China-based operator of a power-bank rental service, has completed a RMB500m ($71.4m) series C round led by internet and telecommunications group SoftBank, 36Kr has reported, citing multiple sources.
The corporate invested through its SoftBank Ventures Asia fund and hedge fund manager Hillhouse Capital and venture capital firm Shunwei Capital also participated in the round,
Energy Monster produces charging banks for mobile devices, providing both banks that can be fixed to tables at restaurants or cafes, and portable systems that can be borrowed from vending machine-like cabinets.
The company announced a $30m round in April this year that was closed in late 2018, sources told 36Kr. Smartphone maker Xiaomi, Shunwei Capital, Hillhouse Capital, New Horizon Capital and Gan Jiawei also took part in the round.
Hillhouse Capital Group, Shunwei Capital, Crystal Stream, Bluerun Ventures and Sky9 Capital invested $30m in Energy Monster in November 2017 having joined GF Xinde for a $14m series A round in July 2017, following a seed round of undisclosed size two months earlier.
Image courtesy of Energy Monster.
