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Chinese energy IoT platform Newlink Group bags $100m led by CMB International
January 29, 2021
Beijing-based energy services provider Newlink Group has announced a $100 million strategic investment in the company led by CMB International (CMBI), the Hong Kong subsidiary of state-backed China Merchants Bank.
Hongtai Aplus’ sub-fund, Guodiao Hongtai Fund, entered as a new investor alongside existing backers Joy Capital a TMT focused firm that invested in GGV Capital-backed Nice Tuan and mock meat startup STARFILED and NIO Capital.
Newlink had closed its Series D round in July last year raising 900 million yuan ($129 million) led by CICC Capital with participation from Joy Capital, NIO Capital, and Xiaomi Corporation, besides Korea Investment Partners (KIP).