Chinese energy storage firm WeView closes $87m round led by state investors

Chinese energy storage firm WeView closes $87m round led by state investors

Shanghai, China. Photo by Liam Li on Unsplash

Shanghai-headquartered WeView, which produces flow batteries for grid-level energy storage, has snagged 600 million yuan ($87.1 million) in a Series A round led by two state-affiliated investors. 

SDIC, an investment arm of state-owned China SDIC Gaoxin Industrial Investment, and Zhuhai Da Heng Qin Group, a state-backed firm set up to support the infrastructure development of Hengqin, a city in the Guangdong Province, led the deal.

Edited by: Padma Priya

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