Recently, lithium battery overall operation service provider Chengmandian closed A round of financing worth CNY 100 million from the government fund. The money will be used for product R&D and market expansion.
On December 1, comprehensive lithium battery operation service Anhui Chengmandain Energy Technology Co., LTD (hereinafter referred to as Chengmandian) (Chinese: 城满电) announced the completion of its A round financing amounting to CNY 100 million (USD 14 million), which was invested by Yingke Innovation Asset Management (Chinese: 盈科资本) and government fund, namely Zibo Economy Development Industrial Fund (Chinese: 淄博市经开区产业基金).
The fund will be used for product R&D, technology iteration and market expansion, continuously developing and promoting the application of lithium battery operation mode.
Chengmandian, founded in 2021 and based in Anhui, is a digitization operation solution supplier focusing on offering professional comprehensive battery operation solutions. Also, the firm is the subsidiary of light lithium battery provider Xingheng (Chinese: 星恒电源), which provides industrial operation resources for Chengmandian.
Besides, the company has gathered many professionals and expanded the market nationwide, including Hunan, Guangdong, Fujian, Jiangxi, Yunnan, Hubei, Henan, Guizhou and Guangxi. Currently, Chengmandian operates nearly 300,000 batteries, ranking at the forefront of the industry.
After this round of financing, Chengmandian plans to provide a more cost-effective battery service in Zibo City and gradually expand its business over the country, promoting the development of lithium battery digitization.