Zhongneng United, a Chinese construction equipment supplier specializing in aerial work platforms, has raised RMB150 million ($22 million) in equity funding as an extension to its Series B round and secured an additional RMB1 billion in bank financing.
The Series B round closed at $50 million in April, led by Source Code Capital and featuring Series A backer Buhuo VC. Zhongneng didn’t name the investors in the extension, merely saying it had now accumulated...
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