Boss Digital Procurement Technology has bagged $52 million in an initial funding round, while new energy firm KATOP has raised $80.7 million in an equity financing round.
Boss DP Tech raises $52m in initial funding
Boss Digital Procurement Technology Development, a subsidiary of Shenzhen-listed Fujian Boss Software Development, has bagged 370 million yuan ($52 million) in an initial funding round.
The round attracted participation from private institutional investors as well as state-affiliated funds, the firm said, without divulging the names of the investors.
The Fuzhou-based firm offers one-stop e-procurement portals to government bureaus and departments, as well as enterprises and universities. So far, it has served over 22 procurement units under different provincial governments, and over 230 universities and state-affiliated enterprises and groups, the firm claims.
With R&D centres across Beijing, Fuzhou, Hangzhou, and Chengdu, the firm plans to spend the proceeds on product iteration, market expansion, and R&D.
KATOP bags $80.7m in an equity financing round
New energy firm Jiangsu KATOP Automation, a subsidiary of Shanghai-listed battery maker Putailai, has secured 574.4 million yuan ($80.7 million) in an equity financing round at a valuation of 4 billion yuan ($510.1 million), according to an exchange filing on May 31.
The round attracted a total of 21 investors including institutional and corporate investors. Hong Kong-listed electric vehicle maker BYD, Shenzhen-listed industrial battery maker Highpower Technology, lithium-ion battery maker Amperex Technology Limited (ATL), and carbon nanotube maker Cnano Technology are among the corporations that injected capital into KATOP.
State Power Investment Corporation Limited (SPIC), a fund managed by state-owned electricity generation firm, also chipped in.
Liyang-based KATOP, which offers intelligent lithium battery solutions to enterprises, was founded in July 2017, with subsidiaries located across Shenzhen, Yichun, Ningde, and Dongguan, according to the company’s website.