Shanghai-based Zhizu (Chinese: 智租换电) recently announced the successful completion of its Series C financing, raising a substantial amount in the hundreds of millions of Chinese Yuan. The funding round was led by Jintong Capital (Chinese: 金通资本), with participation from Pegasus Capital (Chinese: 神骐资本), West Capital (Chinese: 西部优势资本), Bee Fund (Chinese: 蜂云资本), Lingxuan Capital (Chinese: 铃轩资本), Tongying Capital (Chinese: 通瀛资本), Anqing New Energy Investment (Chinese: 安庆新能源投资), and other institutions.
The funds raised will primarily be utilized for innovative technology research and development, global market expansion, and the enhancement of the two-wheel electric vehicle charging infrastructure.
Established in 2018, Zhizu is an innovative IoT technology company in the new energy sector. The company's current business scope includes end-to-end smart vehicle rental services, intelligent charging and swapping stations, smart lithium batteries for new energy vehicles, IoT cloud management platform services, online big data services, offline maintenance services, and comprehensive financial and insurance solutions.
The company is dedicated to building the world's largest platform for two-wheel electric vehicle rentals and a secure and efficient energy replenishment platform. Its clients include Chinese courier companies, food delivery enterprises, fresh e-commerce businesses, new retail enterprises, and a global user base of over 400 million two-wheel electric vehicle consumers.
To date, Zhizu's swapping service has expanded to more than 78 cities, with tens of thousands of intelligent swapping stations deployed. The platform has attracted millions of registered swapping users, completed swaps totaling hundreds of millions, and empowered riders with over 5 billion kilometers of additional riding range, solidifying its position as a leading brand in the two-wheel electric vehicle swapping industry.
The company has established deep and long-term cooperative relationships with major delivery e-commerce giants such as Meituan, Ele.me, Dingdong Maicai (DDL:NYSE), and Dada (DADA:NASDAQ). With rapid growth momentum and a steadily increasing market share, Zhizu achieved a remarkable year-over-year growth of 121% in user numbers and 101% in swapping frequency in 2022. In the first quarter of 2023, the number of swapping users continued to surge, with a remarkable 270% year-over-year growth, setting new records in both incremental growth and growth rate.
With a commitment to playing a pivotal role in addressing global energy challenges, Zhizu has actively worked towards reducing carbon emissions. As per the official website, the company has achieved a substantial reduction of around 3 billion kilograms in carbon emissions – a feat comparable to planting approximately 222,800 spruce trees. Notably, this impressive number continues to grow, underscoring Zhizu's unwavering dedication to environmental sustainability.