New energy vehicle charging service confirms tens of millions of RMB in Pre-B

为电动汽车提供综合服务，「充电网」获数千万人民币Pre-B轮融资 – 36Kr

What happened: ChargerLink, a charging service provider based in China, announced its’ new RMB 10-million-level Pre-B Series. The company has landed services in around 200 cities in China and has penetrated into over 10,000 communities. ChargerLink also cooperated with Tesla on charging piles. Their contract, however, ended in 2016.

Why it’s important: ChargerLink’s new capital injection signals investors’ expectation of a growing new energy vehicle (NEV) market. The company’s entrance to the market, however, differs from common charging pile manufacturers. ChargerLink’s products including data management, smart NEV parking solution, and software development, serve those leading charging pile producers, car makers, and real estate owners, with few large fixed asset investments. This secures the company a place in the industry’s multi-solution provider sector and reduces operational risks in an emerging NEV market.