Towngas Lifestyle secures funding for enterprise progress

Towngas Lifestyle has secured funding from Oriza FOFs and FountainVest to assist speed up its enterprise enlargement. The quantity and different particulars of the funding weren’t disclosed.

The firm, a wholly-owned subsidiary of The Hong Kong and China Gas Company Limited ( Towngas ) that gives a spread of house and life-style services, will use the proceeds to boost product competitiveness and strengthen the capabilities of its synthetic intelligence ( AI ) and Internet of Things ( IoT ) platforms.

As funding establishments, Oriza FOFs and FountainVest convey intensive trade expertise and a broad community of assets. Their help demonstrates robust market confidence in Towngas Lifestyle’s enterprise mannequin and progress potential, the corporate says.

“With 45 million household gas customers across the Chinese mainland and Hong Kong, serving nearly 120 million people, the market potential is enormous,” says Towngas managing director Peter Wong. “This funding round confirms investors’ confidence in Towngas Lifestyle’s direction and business prospects, and we look forward to providing more families with superior products and services.”