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Chinese Refueling Startup Newlink Bags CNY900 Million in Series D Round

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July, 10, 2020 - Chinese energy services startup Newlink Group has completed its CNY900 million Series D round of financing led by CICC Capital. Xiaomi Corporation and existing investors Joy Capital, NIO Capital and Korea Investment Partners (KIP) China also participated.

 

Founded in 2016, Newlink has built an integrated service network of oil and electricity covering more than 1,700 cities, among which the coverage rate of administrative areas with a population of more than 100,000 is over 40%. With its latest funding, Newlink will build cloud computing system Newlink Cloud to help gas stations and electric vehicle charging stations use more digital services, including those for payments, marketing, and supply chain management.

 

Newlink is one of NIO Capital’s key investment enterprises in the field of smart living. Its new system not only meets the needs of the development of the times, but also promotes the companies in the industrial chain. The continuous intelligentization will greatly improve people's life quality and efficiency.

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