China-based electrical transmission equipment maker Pearl Electric has closed a RMB200m ($30m) series C round with backing from power producer China General Nuclear Power Group (CGN), China Money Network reported on Tuesday.
The round also included contributions from an investment subsidiary of Hongta Tobacco Group and undisclosed additional investors. CGN oversees a considerable portfolio of nuclear, wind, solar and hydropower assets.
Founded in 1958, Pearl Electric supplies power transformation and transmission equipment. It has more than 600 employees and its factory space stretches over 80,000 square metres.
The Chinese government-owned State Development & Investment Corporation led a funding round of undisclosed size for Pearl Electric in February 2015.