CICC Capital, Xiaomi in $129 Million Financing for Energy Service Platform Newlinks - Caixin Global
Summary
(Deal Street Asia) — Chinese energy services platform Newlinks Technology has garnered as much as 900 million yuan ($129 million) in a Series D round of financing led by China International Capital Corp.’s private equity arm CICC Capital. The group claims that it is the largest funding in the field of digital energy services, according to a company statement. KIP along with Nio Capital and Yuyue had together poured $110 million into Newlinks Series C round back in November 2019. It uses new generation technologies such as AI, big data, and IoT to provide digital energy infrastructure services. Xiaomi will firmly support Newlinks through our strong capacities on AI and IoT,” said Yue Kai, the head at Xiaomi’s supply chain finance arm SCF-MI, in the statement.