Petroleum services platform JHNYH.COM, also known as Nengyuanhui, has raised ‘millions of US dollars’ in a Series A+ round of financing led by Huihe Capital, an investment firm co-launched by Chinese e-commerce giant JD.com to back intelligent logistics and supply chain startups.
With this, the total capital raised by Nengyuanhui in its Series A and A+ rounds has reached nearly 200 million yuan ($29 million), according to a company statement. Nengyuanhui had closed approximately 100 million yuan ($14 million) in its Series A round from state-owned China Merchants Capital and K2VC earlier in May 2020.
The round was also joined by new investor Far East Horizon’s Shanghai Zhouji Tongli Asset and existing backer 51zhaoyou.com. Beijing-based Maximum Capital served as its financial advisor for the deal.
Nengyuanhui will invest the proceeds to further advance its projects in the areas of storage device, digitalization, supply chain, and brand management.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from July 30-31, 2020.