Xellsmart announced that it has received $28 million in a round of funding co-led by new investors, China-Singapore Suzhou Industrial Park Development Group Co., Ltd., FIG, returning investors, Qiming Weichuang Venture Capital Management (Shanghai) Company Limited and Eli Lilly Investment Consulting (Shanghai) Co., Ltd. and Jinyuan Capital Management (Xiamen) Co., Ltd. on November 8, 2022. The transaction included participation from Suzhou Oriza Holdings Co., Ltd., Sequoia China Investment Management LLP, Founder H Fund Co., Ltd., Shanghai Ziyou Investment Management Co., Ltd., and Next Capital.