SITENAME Logo

China's Energy Monster secures $71.5 million — looks to expand its operation

The battery-sharing firm leveraged China's massive market of 305 million power bank rental users in 2019.


China's Energy Monster secures $71.5 million — looks to expand its operation | BEAMSTART News

The portable battery-sharing startup Energy Monster has closed $71.5 million in a Series C funding round led by Softbank Ventures Asia.

Providing table-mounted and take-away chargers in public places, Energy Monster will use the fund to expand its business offerings and explore new opportunities.

Portable chargers available in public cafes.
 

China saw a huge market of 305 million shared power bank users and will see an increase of up to 408 million users in 2020.

According to iiMedia Research, Energy Monster held 20.9% of the charger-sharing market share in China by June 2019 — placing it third in the market race after Jiedian and Xiaodian with 40.5% and 23.6% market share respectively.

BEAMSTART is a global business community with the aim of connecting people to opportunities. Expand your network, discover new possibilities, and explore a vast database of resources that can help you go further in your business and career.

 

Download the App

Never miss an opportunity again. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved (Legal).