Photo/Tuchong

Dec. 24 (NBD) -- Chinese power bank sharing startup Energy Monster on Tuesday announced that it has raised 500 million yuan (71 million U.S. dollars) in Series C funding round led by SoftBank Ventures Asia and followed by BOC International and Goldman Sachs.

National Business Daily noticed that existing shareholders such as Sky9 Capital, Hillhouse Capital, and Shunwei Capital have also upped the ante in the power bank rental company in this financing round.

The new capital infusion will be used to expand the power bank sharing business and explore new business, according to Energy Monster.

Data from consulting firm iiMedia Research shows that the number of shared power bank users will exceed 300 million across China this year, and in the first half of 2019, Jiedian ranked first in terms of user base, attracting 40.5 percent of the users, whereas Energy Monster took up 20.9 percent.

Email: lansuying@nbd.com.cn