After a period of silence, the power bank rental industry has brought more financing news. On July 27, power bank rental startup Enmonster announced a Series A of RMB 1 million, Chinese media Sina Tech is reporting. However, more competitors don’t seem to be a problem for these companies. AnkerBox, Laidian, and Xiaodian have already staked their claims and now have the biggest shares of the market (in Chinese).

Powered by over 20 investment institutions, these companies are ensuring that new competitors have a hard time entering. Funding amount for more than 10 shared power bank rental startups, including Shenzhen-based AnkerBox (街电), Shenzhen-based Laidian (来电), Xiaodian (小电), HIdian (HI电), Mobo Power (魔宝电源) amounted to more than RMB 300 million ($43 million) this year.

The problem with these power bank rental business is that it doesn’t assure high returns. At a recent panel of sharing economy at RISE in Hong Kong, investors of sharing bikes were also unsure about power charger businesses. However, AnkerBox, Laidian, and Xiaodian say that they are not so much concerned about heating up power bank business.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com