(Yicai Global) Oct. 24 -- Smart vehicle charging systems supplier Beijing X-Charge Science and Technology Co. has completed A-round funding worth CNY10 million (USD1.51 million), with which it plans to push its software and hardware products onto the market to meet strong demand for electric vehicle charging equipment, the company said in a statement.

GGV Capital led the round with support from Zhen Fund Co., which backed the company's previous funding series. The round marks the company's first funding since it completed its distributed charging system in November last year, Securities Times reported yesterday.

X-Charge was founded in May 2015 and develops shared charging piles for electric vehicles. Its main products include its AC and DC charging devices and supporting services for community-based charging facilities. The firm uses decentralized smart hardware to create a one-stop solution for operators and customers with charging problems.

The company plans to accelerate research and development, expand the market and supply chain systems and strengthen industry cooperation. It is currently an important supplier of charging systems to Europe.