China’s Energy Monster snags $71m Series C from SoftBank Ventures Asia, others

China’s takeaway power bank rental startup Energy Monster has raised 500 million yuan ($71 million) in its Series C round of financing led by SoftBank Ventures Asia, BOC International and Goldman Sachs Group Inc, per a company statement. 

Existing shareholders Sky9 Capital, Hillhouse Capital, Shunwei Capital, Advantech Capital, and Jiawei Gan, a partner in Hillhouse Capital, also participated in the round. Xfz Capital served as financial advisor on the deal. 

The company hopes to use the funding proceeds to facilitate market expansion and widen business scope.

Managed by Shanghai Zhixiang Technology Co., Ltd, Energy Monster is a comprehensive power rental platform driven by the internet of things (IoT). Set up in 2017, it offers shared charging services in public places such as shopping malls, restaurants,  cafes, libraries, and stations. The company provides fixed table chargers and portable power banks too.

Energy Monster operates across 1,300 cities and claims to serve 200 million users in China as of November 2019.  

Energy Monster has previously closed five rounds of financing since 2017 securing over 1 billion yuan ($143 million). It counts Hillhouse Capital and Shunwei Capital among its investors. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.