NIO-backed digital energy solutions provider NewLink has closed a Series E RMB 2 billion ($300 million) financing round, the company announced Wednesday.
The lead investor was China Merchants Capital, with repeat shareholders, including CICC Capital, continuing to follow, the company said.
NewLink closed a $300 million investment led by Bain Capital and CMB International and followed by long-time shareholder Joy Capital in the first quarter of this year.
Its shareholders also include China SME Development Fund, Hongtai Aplus' Guodiao Hongtai Investment, NIO Capital, Xiaomi Group and KIP China.
NIO Capital, the venture capital business of NIO, first invested in NewLink in 2019 and has participated in a total of three of its financings.
To date, NewLink's total financing in 2021 exceeds RMB 4 billion.
Founded in 2016, NewLink is dedicated to digitizing, branding and decarbonizing of energy to help achieve carbon neutrality.
The company's "Kuaidian" has more than 700,000 charging piles, accounting for 90 percent of China's public charging piles, according to a report by xinhuanet in June.
As of August 18, NIO had 374 battery swap stations, 252 supercharging stations, 440 destination charging stations and access to more than 390,000 third-party charging piles in China.