Chengmandian Wins Nearly $12.5 Million in First Phase of Round A Financing, Led by Yingke PE

On Wednesday, Anhui Chengmandian Energy Technology Co., Ltd. completed the first phase of a Pre-A round of strategic financing totaling 80 million yuan ($12.5 million), with Yingke PE leading the investment. Chengmandian is expected to complete the second phase of a strategic Pre-A round in January 2022.

Chengmandian was established in March 2021, as a battery operation sub-brand founded by leading vehicle battery maker Phylion Battery. Chengmandian provides customers with professional battery operation management.

At present, the business of Chengmandian mainly involves six major sectors, including battery leasing, charging, power exchange, power maintenance, dispatching and intelligent control. Its users mainly come from motorcycle-sharing companies, power exchange companies and express riders. In the future, Chengmandian will gradually expand business in fields including tricycles and automobiles.

Chengmandian has established technical solutions to support battery operation, including standardized intelligent lithium batteries, battery charging stations, and MaaS (Metal as a Service) data systems.

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As the strategic leading investor of Chengmandian, Yingke PE has been focusing on the carbon-neutral industrial chain for a long time, and has invested in a number of leading enterprises in the industry such as Phylion Battery, COSMX and Suzhou Recodeal.

Yingke PE also focuses on enterprises with key technologies in line with the national development strategy. It aims at the key industries such as biomedicine and hard technology, and has invested in over 200 leading enterprises. Yingke PE’s asset management scale exceeds 50 billion yuan, and 90% of the entrusted management funds come from financial institutions and state-owned enterprises.