(Yicai Global) Jan. 17 -- Dishangtie Car Rental, a Chinese electric vehicle leasing company that counts Sweden's Ikea as one of its investors, has completed its USD200 million Series D financing round to enlarge its network.

DST Car will use the proceeds of its Series D1 and D2 financing to build its digital platform and to expand its operations, tech news website 36Kr reported today.

The first part of the fundraiser was led by a fund under state-backed CICC Capital. The D2 round was led by an unnamed international investor and followed by existing shareholder Ingka Group, the parent of Swedish furniture retailer Ikea.

Founded in 2015, Shenzhen-based DST Car mainly provides electric truck leasing services for logistics companies. Its network covers 200 cities in China, serving nearly 4,000 customers. It has a fleet of nearly 50,000 vehicles.

Last May, DST Car finished its USD100 million Series C round of financing, led by Ingka and followed by many institutions including SMRT Corp., an urban transport service operator in Singapore, according to public information.

The startup has partnered with SMRT and Japanese trading giant Itochu to develop logistics services in Singapore, Southeast Asia, and Japan.

Editor: Emmi Laine, Xiao Yi