Electric car sharing attracts investors to 1buyongche’s Series A, & more

Electric car rental startup 1buyongche receives USD 20 million for Series A


Founder: Tian Haiyu

Founded in: 2016

Financing status: RMB 135 million (USD 20 million) Series A round in 2017

Electric car rental startup 1buyongche on Monday receives USD 20 million for its Series A financing round to expand its rental business to new cities.

1buyongche is an electric car rental startup that mainly provides two-seater electric car rental services in China’s second tier cities with populations of more than 6 million.

Users can download its app, and they will be able to rent its electric cars after uploading a copy of their driver’s license and identity card. Its electric cars can be rented at its physical stores, and users can acquire codes on the app to unlock the cars and pay for the rental charges with their cell phones. They can also return the rented cars at other physical stores. In addition, data will be collected for future use based on face recognition technology and positioning control system on its electric cars.

Founded in 2016 in central China’s Henan, the company aims to place 100,000 electric cars in China to expand its car rental business within 3 years. Moreover, it charges RMB 0.50 per hour, and RMB 99 for an all-day rental.

This Series A financing round was from DFD, a company focusing on the discovery of new energy powered batteries in China. The capital will be used to place more cars in new cities in China, as well as improve its car technology for better security and user experience.

City express delivery services provider Shansong receives USD 50 M for Series C+

Photo from 58pic.com
Photo from 58pic.com


Founded in: 2014

Financing status: RMB 340 million (USD 50 million) Series C+ round in 2017

City express delivery services provider Shansong on Friday receives USD 50 M for its Series C+ financing round to invest more on marketing to boost its leading status in this industry.

Shansong is a city express delivery services provider that provides short distance and citywide logistics services. Unlike traditional logistics systems that transport packages and some other goods from station to station, it assigns a delivery task to one single courier that will be responsible for the whole delivery process. This new model can help reduce delivery time and improve delivery security.

According to data provided by the company, the average time for delivery within 5 kilometers in Beijing is 23 minutes, and orders within 10 kilometers can be delivered in 33 minutes.

Founded in 2014 in Beijing, the company has over 12 million users and completed 184,000 delivery tasks. Currently, its services are available in 31 cities in China, and its processes 100,000 deliveries daily with orders of an average price of RMB 35.

This Series C+ financing round was led by Shunwei Capital and Macrolink Group, with Hearst Magazine China and Prometheus Capital participating as investors. Shansong plans to use the fund to expand its marketing influence in the city express delivery industry. It also wants to improve investment on the development of technology, and introduce big data technology to optimize its services.

(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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