Gongxifache’s automobile e-commerce transactions secures Series A, & more

Automobile e-commerce platform Gongxifache receives USD 11.8 M for Series A


Founded in: 2015

Financing status: RMB 80 million (USD 11.8 million) Series A financing in 2017

Automobile e-commerce platform Gongxifache on Friday receives USD 11.8 M for its Series A round to introduce financial services to its partners to improve their efficiency for automobile transactions.

Gongxifache is a business-to-business (B2B) automobile e-commerce platform that provides online automobile trading, financial and logistics services for the automobile trading industry.

For individual buyers, they can easily finish automobile transactions online on its e-commerce platform. Through browsing and paying for automobiles online, the transaction between buyers and the platform can be finished easily based on its logistic services. In addition, Gongxifache has after-sales services based on its partnerships with automobile businesses.

For automobile dealers, they can get more support from the e-commerce platform including lower prices, financial support services, transaction support and so on.

Founded in Shanghai in 2015, the company currently has partnerships with more than 100,000 automobile dealers, and nearly 1,500 car systems with more than 10,000 models available on its platform. Meanwhile, its monthly trading volume has reached more than RMB 500 million.

This Series A financing round was led by a group of investors including Xincheng investment, Ce Yuan Ventures, and Shenzhoufu which also invested in its last financing round. The capital will be used to improve its financial technology to provide diversified financial services for automobile dealers, as well as improve user experience for online transactions.

Wireless charging technology company Chushan receives undisclosed pre-Series A in millions of USD

Photo from Baidu Images.
Photo from Baidu Images.


Founder: Hao Peng

Founded in: 2015

Financing status: 2017 pre-Series A financing amounting to tens of millions in RMB (a few million USD)

Wireless charging technology company Chushan on Saturday receives undisclosed pre-Series A in millions of USD to recruit new talents for its technology team.

Chushan is a wireless charging technology company that focuses on the research and development of magnetic resonance based wireless power transfer for its business partners. Its wireless power technology solutions is mainly used in cellphones, household appliances, and some other devices.

Founded in 2015 in Shanghai, the company is formed by a group of scientists and industry veterans with experience in researching, manufacturing and marketing in the wireless charging industry. It has now formed collaborations with many domestic and foreign companies such as Huawei and jabil, and provides them with its wireless charging solutions for their drones and some other devices.

This pre-Series A financing round was led by FutureCap, and Purple Cow Startups participated as an investor. Chushan plans to use this fund to expand its technology team by recruiting more talents, in order to speed up the R&D process of its wireless charging products. At the same time, Chusan will invest more on marketing for future development.

(Top photo from 58pic.com)

Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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