Tencent and Fosun have contributed to a series B round for the power bank rental service, weeks after Tencent co-led its $14.5m series A.
China-based portable charger rental service Xiaodian has raised RMB350m ($50m) in series B funding from investors including internet company Tencent, according to China Money Network.
Fosun Kinzon Capital, an investment arm of diversified conglomerate Fosun, also contributed capital, as did Sequoia Capital China and Banyan Capital which co-led the round, CDH Investments, Vision Plus Capital and Zhongwei Capital.
Incorporated in 2016, Xiaodian has installed portable power banks in stores and offices across a number of Chinese cities.
Users are able…
