Newlink Valuation, Funding & Investors

Newlink is valued at $1B as of January 2021.

Last Newlink valuation

$1B

Series E · Jan 2021

Last Newlink funding round

$44M

Undisclosed stage · Jan 2023

Cumulative funding Newlink raised

$550M

across 8 funding rounds

Key investors in Newlink

  • Joy Capital
  • NIO Capital
  • Korea Investment Partners
  • Bain Capital
  • CICC
  • CMB International Capital Corporation

Newlink Overview

About Newlink

Newlink is a Shanghai-headquartered digital energy service provider operating energy internet-of-things platforms and new retail solutions across oil, electricity, hydrogen, and gas sectors. Recognized among the world's top 500 new energy companies, the firm employs over 3,000 staff and integrates upstream-downstream chains for ecological reconstruction.


Founded

2016

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$1B (Jan 2021)

Newlink Valuation

Newlink is currently valued at $1B, based on its Series E in January 2021.

The $100M round was led by CMB International Capital Corporation, with participation from Joy Capital, Hongtai Capital Holdings and NIO Capital.

Newlink valuation by funding round

Newlink valuation by funding round
DateStageValuation
Jan 2021Series E$1B

Newlink Funding History

Newlink has raised a total of $550M across 8 funding rounds.

Newlink's first fundraising round was a $8M Series A in January 2018. The most recent completed round was a $44M undisclosed-stage round in January 2023.

Newlink funding rounds

Newlink funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2023Undisclosed stageRunwu Venture Capital$44M--
Mar 2021Series EBain Capital (lead); Joy Capital$200M-Newlink Group, a Beijing-based digital energy services platform founded in 2016, operates apps Tuanyou and Kuaidian to connect drivers with 23,000 gas stations (20% of China's total) and 700,000 EV charging piles (90% of total) across 1,700 cities and towns. The company provides SaaS solutions to digitize operations for partner stations, reduce procurement costs, boost efficiency, and promote low-carbon energy transitions amid China's carbon neutrality goals. It plans to create branded Energy Service Hubs integrating gas, charging, maintenance, and convenience services. On March 22, 2021, Newlink closed a $200 million incremental equity financing round led by Bain Capital, with participation from existing investor Joy Capital. This followed a $100 million tranche earlier in 2021 led by CMB International and backed by Nio Capital, Joy Capital, and others, bringing the total raised in the latest round to $300 million. Previous funding included a $129 million Series D in July 2020 led by CICC Capital with Xiaomi, Nio Capital, Joy Capital, and Korea Investment Partners, and a $110 million Series C in late 2019 led by Joy Capital. The funds support expansion of Newlink's apps, R&D in technology solutions like AI, big data, IoT, payment systems, and growth of its EV charging network to transform China's RMB3 trillion energy market. Backers include Nio, Xiaomi, China Construction Bank, and various funds. Bain Capital highlighted Newlink's role in digitizing the energy ecosystem and aiding the shift to electric vehicles, drawing from their experience with U.S. energy platform FLEETCOR.
Jan 2021Series ECMB International Capital Corporation (lead); Joy Capital; Hongtai Capital Holdings; NIO Capital$100M$1B-
Jul 2020Series DCICC (lead); Joy Capital; Korea Investment Partners; NIO Capital; Xiaomi Ventures$129M-Newlink Group, a Beijing-based Chinese energy services startup founded in 2016, operates refueling app Tuanyou and battery charging app Fleetin, alongside SaaS solutions for energy distributors, covering 20,000 gas stations and 400,000 charging piles. The company completed its Series D funding round on July 10, 2020, raising CNY900 million (USD128.7 million), led by CICC Capital with participation from Nio Capital, Xiaomi, Korea Investment Partners, and Joy Capital. Proceeds will fund development of Nenglian Cloud, a cloud computing system to provide digital services like payments, marketing, and supply chain management for gas stations and EV charging stations. Newlink anticipates doubling its gross merchandise volume in 2020 and had reached CNY50 billion (USD7.1 billion) annual GMV by end-2019 following its prior Series C round of USD110 million in November 2019.
Jan 2019Series B-$66M--
Jul 2018Series A-$2M--
May 2018Series A-$2M--
Jan 2018Series A-$8M--

Who has invested in Newlink?

9 investors have backed Newlink across its funding rounds, including Joy Capital, NIO Capital, Korea Investment Partners, Bain Capital, CICC and CMB International Capital Corporation.

Lead investors include Bain Capital, CMB International Capital Corporation and CICC.


Newlink Investors

Investors in Newlink by funding rounds participated
InvestorHQRoundsRoleFirst check
Joy CapitalChinaBeijing3ParticipantJul 2020
NIO CapitalChinaShanghai2ParticipantJul 2020
Korea Investment PartnersSouth KoreaSeoul1ParticipantJul 2020
Hongtai Capital HoldingsChinaChina1ParticipantJan 2021
CICCChinaBeijing1LeadJul 2020
Runwu Venture CapitalChinaShenzhen1ParticipantJan 2023
CMB International Capital CorporationHong KongHong Kong1LeadJan 2021

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Newlink Competitors

Newlink competitors include listed companies like Ituran Location & Control and Aeva, and private ones like View, Deep Intelligent Control, COSMOplat and FLASH.

Public and private companies comparable to Newlink
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ViewUnited StatesSan Jose, CAPrivate--$700M-
Deep Intelligent ControlChinaNanjingPrivate--$442M-
COSMOplatChinaShanghaiPrivate--$1B-
FLASHUnited StatesAustin, TXPrivate--$1B-
Ituran Location & ControlIsraelIsraelPublicly listed$359M$93M$1B2.3x
AevaUnited StatesUnited StatesPublicly listed$18M($139M)$1B34.3x

Newlink Public Comps

Newlink is still privately-owned, but its public comps include Grupo TSK, Ituran Location & Control, Aeva, Fugro, Fluence Energy, ProFrac, Total Energy Services, Tuya, Polenergia and JANAF.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Grupo TSK$1.2B$52M0.6x-13.1x-
Ituran Location & Control$359M$93M2.6x2.3x10.0x8.6x
Aeva$18M($139M)52.8x34.3x(6.8x)(8.4x)
Fugro$2.1B$163M0.8x0.8x9.8x5.3x
Fluence Energy$2.3B($12M)0.5x0.5x(99.7x)(7.3x)
ProFrac$1.9B$187M1.2x1.2x12.4x8.4x
Total Energy Services$762M$140M1.2x1.0x6.7x5.7x
Tuya$322M$22M0.3x0.3x4.6x2.7x

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Common questions about Newlink

When was Newlink founded?Newlink was founded in 2016.
Where is Newlink headquartered?Newlink is headquartered in Beijing, China.
Is Newlink publicly listed?No, Newlink is a private, VC-backed company.
What is Newlink's valuation?Newlink was last valued at $1B in its Series E in January 2021.
How much funding has Newlink raised?Newlink has raised $550M across 8 funding rounds.
What was Newlink's last funding round?Newlink's last funding round was a $44M undisclosed-stage round in January 2023.
Who are Newlink's investors?Newlink's investors include Joy Capital, NIO Capital, Korea Investment Partners, Hongtai Capital Holdings, CICC, Runwu Venture Capital, CMB International Capital Corporation, Bain Capital and Xiaomi Ventures.
Which companies are comparable to Newlink?Companies comparable to Newlink include View, Deep Intelligent Control, COSMOplat, FLASH, Ituran Location & Control and Aeva.

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