Portfolio Updates
Yiqi Exchange Receives Big Financing from NIO Capital, Tencent Holdings

August 31. 2019-- Yiqi Exchange, a provider of battery swap and charging services for electric scooters, announced the closing of its Series B financing, with investors including NIO Capital, Tencent, Cathay Capital and Plum Blossom.

"With the implementation of new international standards in recent years, the electric scooter industry has seen new development opportunities arise, and the industry as a whole will see new growth cycles moving forward," said Sun Zhuo, Founder and CEO of Yiqi Exchange. "We have the opportunity to solve the battery-related pain points of all users, from food delivery drivers to average e-bike owners, through lithium battery and battery swap services. In the future, lead-acid batteries may yet be replaced by lithium batteries, offering a prime opportunity for providers of energy services for scooters. Moving forward, we will see large numbers of new and emerging battery brands enter the market, but Yiqi Exchange will always put the safety and quality of our products and users above all else, even amidst a turbulent, competitive market."