Geely-backed EV startup Caocao Zhuanche raises $156m Series A at $1.6b valuation

Geely-backed EV startup Caocao Zhuanche raises $156m Series A at $1.6b valuation

Visual from Geely's website

Electric vehicle-sharing company Cacao Zhuanche, a Geely-invested mobility solutions firm, said it raised Rmb1 billion in its first major funding round, giving the startup an initial valuation of over Rmb10 billion ($1.6 billion).

The two-year-old Huangzhou-based firm’s Series A round was participated by various domestic and overseas investors, whose identities were not disclosed.

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