Mirattery, the battery asset management company linked to Nio Inc., said it has completed the C3 tranche of its Series C financing, raising about 1 billion yuan ($145 million) and bringing total funding in the round to nearly 2 billion yuan.
The latest investment introduces two state-owned enterprise shareholders from Hefei — Hefei Construction Investment Holding and Hefei Economic and Technological Development Zone (HETDZ) Investment Promotion — reinforcing the city’s ongoing support for Nio’s ecosystem. Hefei hosts multiple Nio manufacturing facilities and previously provided financial backing to the automaker during a liquidity crisis in 2019.
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Mirattery said the new capital will support expansion of its battery asset management operations and further development of battery technologies. The company manages battery packs used in Nio’s Battery-as-a-Service (BaaS) program, which allows customers to purchase vehicles without owning the battery and instead pay a subscription fee.
Founded in August 2020, Mirattery was established through a joint investment by battery maker CATL, Nio, securities firm Guotai Junan and Hubei Science Technology Investment. The company said it currently manages battery assets exceeding 42 gigawatt-hours and serves more than 550,000 users.
See also: Nio Reaches 100 Million Battery Swap Services in Milestone for EV Energy Model
The C3 tranche follows earlier steps in the Series C round. Mirattery announced a 670 million yuan raise in November 2025 and said in December that total funding had expanded to nearly 1 billion yuan after additional state-backed investors joined.
Separately, the company completed a 501 million yuan issuance of real estate investment trusts (REITs) this week, adding another financing channel to support asset growth.
Mirattery’s BaaS model is central to Nio’s strategy to reduce upfront vehicle costs and enable battery swapping services, a key differentiator in China’s competitive electric vehicle market.
