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DST raised $100M in a Series E+ funding round led by Twin Towers Ventures and existing shareholders to advance new energy logistics technology and expand global presence.

Jul 09, 2024•about 1 year ago

Amount Raised

$100 Million

Round Type

series e

ShenzhenTransportationLogistics

Investors

PetronasTwin Towers Ventures (Ttv)

Description

DST, a global player in digital and intelligent operation service provider for new energy logistics vehicles, announced the successful closing of its Series E+ funding round today. The round saw participation from Twin Towers Ventures (TTV), the corporate venture capital arm of PETRONAS, along with existing shareholders. This marks DST’s second funding round in six months, following the completion of Series E funding in Q4 2023, bringing the total amount raised in the Series E round to approximately $100 million.

Company Information

Company

DST

Location

Shenzhen, Guangdong Province, China

About

Founded in 2015, DST Electric Vehicle Rental (Shenzhen) Co., Ltd.("DST", the "Company", "we"), is a leading digital intelligent operation service provider in China for new energy logistics vehicles. Based on the principles of green and sustainable development, we take the responsibility of promoting the full electrification of urban logistics vehicles and managing their life cycle as our approach. DST connects the whole value chain of the new energy logistics vehicle industry and provides customers with a digital intelligent operation service network, including asset operation and services integrating vehicle leasing and sales, charging, storage, maintenance, and cascade utilization. We empower every participant in the industry to achieve efficiency and value enhancement by "service-oriented" and continue to promote the standardization and intelligence of the industry, so that the emerging ecosystem will become simpler and more effective due to DST.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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