(Yicai Global) Nov. 29 -- The government of China's east-central Jiangsu province has recently invested CNY300 million in the shareable charger brand Volt+, as tech media service pencilnews.cn reported.

Jiangsu Government Investment Fund (JSGIF) and Shanghai Jiafei Investment Partnership (LP) invested in this A-round of financing, with proceeds slated for device installation and product development.

The company outed no further details as to this financing round. Brand owner Shanghai Grid Electricity Network Technology Co. promoted this project in May, thereby securing CNY10 million in angel financing that same month.

Inaugurated in August, over 10,000 sets of its Volt+ devices have been installed in 95 cities in China and have over 300,000 users. The monthly turnover of CNY2 million they generate walks a tightrope between profit and loss. Volt+ has cooperated with more than 100 scenic spots in China and plans to infiltrate airports, subways, tourist attractions and bars, among other consumption venues, said its founder Ding Minglei.