Geneoge, a one-stop DTC service platform, secures a new round of funding after completing the last round 3 months ago.
Geneoge, (Chinese: 集成能源), a one-stop DTC service platform for new energy vehicles (NEVs), has recently completed a new round of financing led by Junshan Private Equity Fund and followed by its long-time shareholder Fengrui Capital, with another round of financing completed in the past three months.
StarBridge Capital continues to serve as the exclusive financial advisor. This round of funding will be mainly used to accelerate the construction of a basic service network in the downstream market.
Focusing on the new energy vehicle industry, Geneoge is dedicated to building a one-stop NEV infrastructure and service ecology around NEV scenarios in lower tier cities, promoting the wider adoption of NEVs on the one hand, and providing consumers with convenient, economical, green and low-carbon lifestyle on the other.
The announcement of this round of financing is just three months after the completion of the last round of financing, which also shows that the capital is optimistic about the prospects of the track. It’s indicated that in addition to the retail of NEVs, the business of Geneoge also involves the field of after-sales and energy replenishment services.
Zhang Rui, founder and CEO of Geneoge, says, "Some national ministries and commissions have jointly carried out activities for NEVs in the countryside, and with the successive introduction of various favorable factors, sales of NEVs in the sinking market will continue to heat up in the second half of the year."