Newlinks Technology Funding, Investors & Competitors

Newlinks Technology has raised $518M across 6 funding rounds, most recently a $200M undisclosed-stage round in March 2021.

Last Newlinks Technology funding round

$200M

Undisclosed stage · Mar 2021

Cumulative funding Newlinks Technology raised

$518M

across 6 funding rounds

Key investors in Newlinks Technology

  • Joy Capital
  • NIO Capital
  • Korea Investment Partners
  • Bain Capital
  • Oriental Fortune Capital
  • GSR United Capital
  • Shenzhen Guozhong Venture Capital Management
  • Zero2IPO

Newlinks Technology Overview

About Newlinks Technology

Newlinks Technology is a provider of digital platforms and SaaS solutions for China's energy sector, targeting gas stations and EV charging networks. The company offers online marketing, supply chain management, and operational tools to boost merchant sales and efficiency. Newlinks supports the transition to carbon-neutral energy infrastructure.


Founded

2016

HQ

ChinaBeijing

Website

czb365.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Newlinks Technology Funding History

Newlinks Technology has raised a total of $518M across 6 funding rounds.

Newlinks Technology's first fundraising round was a $3M Series A in July 2018. The most recent completed round was a $200M undisclosed-stage round in March 2021.

Newlinks Technology funding rounds

Newlinks Technology funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2021Undisclosed stageBain Capital (lead); Joy Capital$200MNewlinks Technology Limited (Newlink) is a leading technology platform in China's energy sector founded in 2016. The company operates two flagship applications—Tuanyou and Kuaidian—that help drivers find gas stations and electric vehicle charging points across China, with a network covering 23,000 gas stations (20% of China's total) and 700,000 charging piles (90% of China's total EV charging infrastructure) spanning 1,700 Chinese cities and towns. Beyond consumer apps, Newlink provides software-as-a-service (SaaS) solutions that digitalize partner gas and charging stations, helping owners reduce procurement costs, manage operations, and improve profits. The company also plans to convert independent gas stations into Newlink-branded Energy Service Hubs offering gas, EV charging, auto maintenance, and convenience store services. In March 2021, Newlink closed a $200 million strategic investment round led by Bain Capital, with existing investor Joy Capital also participating. This funding represented the second major capital raise of 2021, following a $100 million round led by China Merchants Bank International in January, bringing total 2021 fundraising to $300 million. According to Bain Capital, the investment targets China's RMB 3 trillion underlying energy market and would be deployed toward accelerating adoption of Newlink's flagship apps, R&D on technology solutions, and expansion of the EV charging network. Newlink operates at the intersection of China's energy transition and digital infrastructure development. The company's positioning capitalizes on Beijing's policy commitment to achieve carbon neutrality by 2060 and government targets to boost new energy vehicle sales to 25% of all auto sales by 2025. The company has attracted a diverse investor base including Xiaomi, Nio Capital, CICC Capital, China Merchants Capital, and SME Development Fund. By December 2021, Newlink was described as a pre-IPO unicorn company with recognized achievements in carbon reduction, having participated as a key speaker at the COP 26 UN Climate Change Conference in November 2021.
Jan 2021Undisclosed stageChina Merchants Technology Holdings (lead); Joy Capital; Hongtai Fund; NIO Capital$100MNewlink Technology Inc. (SEHK:9600) is an investment holding company providing big data analysis and artificial intelligence related solutions in China, founded in 2011 and listed on the Hong Kong Stock Exchange in January 2021. The company operates in the IT consulting and other services sector, with its headquarters in Beijing. It went public around the approximate date of the queried funding (Jan 2021), but no pre-IPO VC round details matching the specified investors (China Merchants Technology Holdings, Hongtai Fund, Joy Capital, NIO Capital) or post-money valuation are present in the sources. Financials show revenue of 205.75M CNY for fiscal year 2021, up 16.81% from 176.15M CNY in 2020. Later years indicate revenue growth to 260.55M CNY in 2022, a dip to 245.50M CNY in 2023, and recovery to 278.82M CNY in 2024, with gross profit peaking at 74.60M CNY in 2021 before declining. The company reported losses, with TTM earnings at -CN¥101.61M and net profit margin -35.08% as of recent reports. Market cap hovered around HK$223-239M, with P/S ratio ~0.7x and 622 employees in 2024. No EBITDA, ARR, valuation multiples, or specific VC funding details for the queried round were found; sources focus on post-listing financials and performance.
Nov 2019Series CJoy Capital (lead); Korea Investment Partners; NIO Capital$110MNewlinks Technology (also referred to as Newlinks Technology Group or Newlink Group) is a Chinese digital energy service provider focused on car fueling services, leveraging apps like Tuanyou and Kuaidian to reduce carbon emissions and promote new energies through a network covering 23,000 gas stations (20% of China's total) and 700,000 EV charging piles (90% of total). The company operates a SaaS platform to digitalize partner gas and charging stations, aiding traditional energy firms in efficiency and low-carbon transitions. A prior valuation estimate of USD 252-377 million was noted for August 2019. Joy Capital, an early backer, highlighted Newlinks' role in China's energy sector transformation toward carbon neutrality. The company continued growth, completing a US$300 million financing in March 2021 led by Bain Capital, with Joy Capital participating. This later round supported expansion amid China's climate commitments. Newlinks aimed to become a net-zero emissions business while optimizing procurement for energy partners. By 2024, as Newlink Technology Inc., the firm reported RMB 278.8 million in revenue, up 13.6% year-on-year, with gross profit of RMB 38.9 million, reflecting diversification into markets like the Greater Bay Area and North China, including new subsidiaries for medical technology and regional expansion. It conducted a share placing raising HK$43.6 million net proceeds for working capital.
Aug 2019Series BOriental Fortune Capital (lead); Shenzhen Guozhong Venture Capital Management; Rizhao Caijin Investment Group; China Construction Bank; National SME Development Fund$64MNewlinks Technology Inc. is a company listed on the Hong Kong Stock Exchange, focused on digital and intelligent transformation solutions, with operations in the Greater Bay Area and other regions. It provides products and services in technology deployment across various sectors. The company has shown revenue growth in recent years, reporting RMB 278.8 million in revenue for 2024, up 13.6% year-on-year, with gross profit of RMB 38.9 million. Historical financials from annual reports indicate revenues around RMB 176 million to RMB 260 million in prior years including 2019-2021 periods, alongside fluctuating profitability and equity figures rising to over RMB 800 million by 2023. Oriental Fortune Capital, the lead investor in the queried 2019 round, is a prominent Shenzhen-based venture capital firm founded in 2006, managing over 35 billion yuan across 60 funds. It invests in TMT, green technology, healthcare, and other sectors, with a portfolio exceeding 430 companies and notable exits via IPOs.
Feb 2019Series BGSR United Capital (lead); Zero2IPO (lead); Qingdao Global Wealth Center; Sino Pacific Capital; Pusu Capital$41MNewlinks Technology is highlighted as one of the popular portfolio startups of GSR United Capital, a venture capital firm focused on artificial intelligence, robotics, advanced manufacturing, and other sectors primarily in China. The fund invested in Newlinks Technology at a valuation of 26 million, with typical deal sizes ranging from 10-50 million dollars and peak activity in 2018. GSR United Capital often participates in rounds with 2-3 investors, including Eastern Bell Venture Capital, ZSY Capital, Matrix Partners China, Zhenghan Investment, and Zero2IPO, which aligns partially with the specified investors for the 2019 round led by GSR United Capital and Zero2IPO alongside Pusu Capital, Qingdao Global Wealth Center, and Sino Pacific Capital. The company is grouped with other GSR investments like Xyb2b and Gooosun, in a portfolio emphasizing manufacturing, AI, IT, robotics, and software, with investments typically targeting startups aged 2-3 years. GSR United Capital has a history of lead investments and some exits, showing higher exit rates compared to peers. Related entities like Newlink Group (possibly connected or rebranded), founded in 2016, operate as an online technology platform matching drivers in China with gas stations and EV charging piles, helping station owners increase sales, cut costs, and manage operations. Later, Newlinks Technology Limited (NewLink) went public on Nasdaq as NAAS, offering energy asset solutions for charging stations and PV assets.
Jul 2018Series AZSY Capital (lead); Blueflame Capital$3M-

Who has invested in Newlinks Technology?

18 investors have backed Newlinks Technology across its funding rounds, including Joy Capital, NIO Capital, Korea Investment Partners, Bain Capital, Oriental Fortune Capital and GSR United Capital.

Lead investors include Bain Capital, China Merchants Technology Holdings, Joy Capital, Oriental Fortune Capital, GSR United Capital and 2 other investors.


Newlinks Technology Investors

Investors in Newlinks Technology by funding rounds participated
InvestorHQRoundsRoleFirst check
Joy CapitalChinaBeijing3LeadNov 2019
NIO CapitalChinaShanghai2ParticipantNov 2019
Shenzhen Guozhong Venture Capital ManagementChinaShenzhen1ParticipantAug 2019
China Merchants Technology HoldingsChinaShenzhen1LeadJan 2021
Oriental Fortune CapitalChinaShenzhen1LeadAug 2019
GSR United CapitalChinaBeijing1LeadFeb 2019
Qingdao Global Wealth CenterChinaQingdao1ParticipantFeb 2019
Korea Investment PartnersSouth KoreaSeoul1ParticipantNov 2019
ZSY CapitalChinaShanghai1LeadJul 2018
Hongtai FundChinaShenzhen1ParticipantJan 2021
Rizhao Caijin Investment GroupChinaRizhao1ParticipantAug 2019
Sino Pacific CapitalChinaShenzhen1ParticipantFeb 2019
Blueflame CapitalChinaQingdao1ParticipantJul 2018

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Newlinks Technology Competitors

Newlinks Technology competitors include listed companies like Salesforce, HubSpot and Zeta Global, and private ones like Attentive, Bloomreach and Talkdesk.

Public and private companies comparable to Newlinks Technology
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AttentiveUnited StatesHoboken, NJPrivate$125M-$6.9B55.2x
BloomreachUnited StatesSan Francisco, CAPrivate$150M-$2.2B14.7x
SalesforceUnited StatesUnited StatesPublicly listed$42B$13B$200B5.2x
HubSpotUnited StatesUnited StatesPublicly listed$3.1B$140M$11B2.9x
TalkdeskUnited StatesSan Francisco, CAPrivate$230M-$10B43.5x
Zeta GlobalUnited StatesUnited StatesPublicly listed$1.3B$39M$7.6B4.5x

Newlinks Technology Public Comps

Newlinks Technology is still privately-owned, but its public comps include GE Vernova, Salesforce, Reliance Industries, Siemens Energy, Enbridge, Quanta Services, Williams Companies, Enterprise Products, Energy Transfer and Kinder Morgan.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
Reliance Industries$110B$20B1.9x1.7x10.4x10.3x
Siemens Energy$45B$4.5B2.7x2.4x27.3x16.1x
Enbridge$47B$15B4.2x3.6x13.3x13.3x
Quanta Services$28B$2.5B3.5x2.7x38.8x26.3x
Williams Companies$12B$7.4B10.1x9.8x16.4x14.6x
Enterprise Products$53B$9.6B2.2x1.9x12.3x11.0x

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Common questions about Newlinks Technology

When was Newlinks Technology founded?Newlinks Technology was founded in 2016.
Where is Newlinks Technology headquartered?Newlinks Technology is headquartered in Beijing, China.
Is Newlinks Technology publicly listed?No, Newlinks Technology is a private, VC-backed company.
How much funding has Newlinks Technology raised?Newlinks Technology has raised $518M across 6 funding rounds.
What was Newlinks Technology's last funding round?Newlinks Technology's last funding round was a $200M undisclosed-stage round in March 2021, led by Bain Capital.
Who are Newlinks Technology's investors?Newlinks Technology's investors include Joy Capital, NIO Capital, Shenzhen Guozhong Venture Capital Management, China Merchants Technology Holdings, Oriental Fortune Capital, GSR United Capital, Qingdao Global Wealth Center, Korea Investment Partners, ZSY Capital, Hongtai Fund and 8 others.
Which companies are comparable to Newlinks Technology?Companies comparable to Newlinks Technology include Attentive, Bloomreach, Salesforce, HubSpot, Talkdesk and Zeta Global.

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