- Mirattery completed a Series C financing of nearly RMB 1 billion ($140 million), an expansion from the RMB 670 million announced in November.
- Mirattery added a state-owned enterprise in Meishan, Sichuan as a new shareholder.
Mirattery, the battery asset operator of Nio Inc (NYSE: NIO, HKG: 9866), or Wuhan Weineng, announced the completion of its expanded Series C financing about two months after initially announcing the funding round.
Mirattery announced on December 26 the completion of a cumulative Series C equity financing totaling nearly RMB 1 billion ($140 million), according to a statement released today.
Beyond additional investments from founding shareholders and two new state-owned capital shareholders announced in November, Mirattery introduced a state-owned enterprise from Meishan, Sichuan as a new shareholder, according to its statement.
This signifies further investor endorsement of Mirattery's business model and development prospects, providing financial and resource support for the company's next phase of business expansion, technological innovation, and service enhancement, it said.
Mirattery had previously announced the completion of a RMB 670 million Series C equity financing on November 3.
At that time, the company introduced two new state-owned shareholders: Haining Economic Development Zone Industrial Park Development & Construction Co and Hainan Chengmai Development Holding Group Co.
Mirattery will allocate the Series C funding toward battery asset deployment, R&D, and other areas to advance battery asset management services and application technology innovation, it said.
To date, Mirattery's battery assets under management have exceeded 35 GWh, serving over 500,000 users, the company said today.
As of November, the company has filed 181 patent applications, with over 85 percent related to battery technology, Mirattery said.
Founded on August 18, 2020, Mirattery was jointly established by CATL, Nio, Guotai Junan, and Hubei Science Technology Investment.
In August 2020, Nio launched its BaaS (Battery as a Service) battery rental business, with Mirattery serving as the manager of these leased battery assets.
($1 = RMB 7.0071)
