Battery swapping service Sun Mobility closed $50m in funding from Vitol while Sinopharm-backed drug developer Sinotau raised the same amount in a series D-plus round.

Funding

Energy trader Vitol has invested $50m in Sun Mobility, an India-based battery swapping service for electric vehicles, Business Standard reported yesterday. Sun Mobility was formed in 2017 as a joint venture between industrial equipment manufacturer Maini Group and new energy, electronics and asset management conglomerate Sun Group, and will spend the funding on increasing capacity.

Sinotau, a China-based developer of treatments for tumours, neurodegenerative and cardiovascular diseases, has closed a RMB320m ($50m) series D-plus round co-led by China Life…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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