Qualcomm and existing backer Hyundai both invested in a $43.5m round for Immotor's EV battery rental spinoff that was led by US-China Green Fund.
China-based battery rental service E-huandian has received RMB300m ($43.5m) in series B funding from investors including mobile semiconductor producer Qualcomm and carmaker Hyundai, China Money Network has reported.
US-China Green Fund led the round, which included financial services firm Mirae Asset, Korea Investment Partners, GGV Capital, Yunqi Partners and Translink Capital, while Qualcomm took part through its Qualcomm Ventures unit.
E-huandian, a subsidiary of e-scooter maker Immotor, rents out portable lithium batteries used to power electric vehicles (EVs). Users can…
