Dongguan Veken Battery Co., Ltd. announced that it expects to receive CNY 530 million in funding from Veken Technology Co., Ltd.
August 04, 2021
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Dongguan Veken Battery Co., Ltd. announced that it will receive CNY 530 million in an equity round of funding on August 4, 2021. The transaction will include participation from returning investor Veken Technology Co., Ltd, who will retain its 100% stake in the company. The transaction will be raised in tranches. After the completion of transaction, the registered capital of the company will increase from CNY 262 million to CNY 792 million. The transaction has been approved by investor's eighth meeting of the tenth board of directors of the investor and still needs its shareholders approval.
Veken Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of lithium-ion batteries. The Company's consumer electronics products include pure manganese batteries, ternary batteries, ternary manganese-added batteries, ternary cobalt-added batteries, and pure cobalt batteries, which are mainly used in smartphones, laptops, power banks, smart homes, and drones. The Company's small power battery products include lithium iron phosphate batteries and ternary batteries, which are mainly used in electric two-wheeled vehicles, power tools and other fields. The Company distributes its products within the domestic market and to overseas markets.
VEKEN TECHNOLOGY CO., LTD. 
