Battery startup EcoFlow raises over $4m Series A from Chinese investors

EcoFlow's River mobile power station

EcoFlow, a battery startup company based in San Francisco and China, has raised over $4 million Series A from Delia Capital, SCUD Group, Guangzhou Penghui Energy and Chunjia Assets, the company announced on April 27.

EcoFlow said it will use the proceeds to expand R&D and sales, further deploy energy storage products, and expand into new markets.

Established in 2016, the startup has already raised over $10 million in capital from leading supply chain and manufacturing companies.

“We took our seed round and Series A purely from the most prestigious supply chain goliaths and investors in China, creating essentially a ‘soft’ vertical integration of our supply chain. We are standing on the shoulders of giants while retaining the nimbleness of a startup,” said Eli Harris, co-founder and CEO of EcoFlow.

Guangzhou Penghui Energy is a leading battery cell manufacturer, while SCUD Group is an investment holding company that handles production and sale of various rechargeable lithium-ion battery modules. Delian Capital and Chunjia Assets are institutional supply chain investors.

EcoFlow’s flagship product River mobile power station was launched in April 2017 and offers a mobile power solution for different needs such as campsites, rooftops or in developing countries facing power shortages. The product allows up to 11 devices to be charged simultaneously.

EcoFlow is already chalking up plans for the next round of fundraising to sustain its momentum. “The company will be raising its Series B later this year, with a focus again on strategic partners in the areas of power generation and retail distribution,” the company said in its statement.

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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. 
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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.