O2O freight transport platform Huolala receives USD 100M for Series C
Founded in: 2013
Financing status: RMB 659 million (USD 100 million) for Series C financing
O2O cargo delivery platform, Huolala, received USD 100 million for Series C on October 11 to solidify its presence in cities and expand its business-oriented services.
Huolala is an O2O (Online to Offline) cargo delivery platform that matches freight owners with transport resources, and provides its customers with competitive prices. As opposed to other cargo delivery service providers, Huolala charges drivers monthly membership fees rather than a percentage of their earnings.
Founded in Shenzhen in 2013, it currently has two million registered drivers with over 15 million users. Meanwhile, its services have covered more than 100 cities in mainland China. Its business volume maintained a monthly growth rate of 30% this year, and it has achieved single-city profitability in key cities such as Shenzhen, Guangzhou, and Shanghai. Moreover, it is expanding its services overseas, and will enter Vietnam later this year.
This new financing round was led by Shunwei Capital, with Xianghe Capital, and MindWorksVentures participating as investors. The capital will be used to facilitate its business in cities, and expand its service range to cover more enterprise businesses.
Mini gymnasium rental startup Misspao receives USD 11M for Series A
Founder: Bi Zhen
Founded in: 2017
Financing status: RMB 75 million (USD 11 million) for Series A financing in 2017
Mini gymnasium rental startup Misspao receives USD 11M for Series A on October 11 to invest in market expansion plans.
Misspao is a mini-gymnasium rental startup that provides customers with convenient exercising support. It places its mini-gymnasiums in communities, campuses, city centers and other crowded places where users can get to them in five minutes. Its mini-gymnasium covers an area of four square meters, which can accommodate one to two users at a time. Mini-gymnasiums are equipped with a treadmill, dynamic bike, and elliptical machine–all commonly used machines in fitness clubs. Users can make an appointment to rent a mini-gymnasium through Misspao’s app, and open the door by scanning the QR code. All of its services are self-help services.
Founded in 2017 in Beijing, so far it has released two versions of its mini-gymnasiums, all of which have been put into use. Currently, its services are available in Beijing, Shenzhen and Guangzhou, and it is expected to cover more than 10 cities in China by the end of this year. It has formed partnerships with 1000 communities in Beijing, and 500 communities in other locations in China.
This Series A financing round was led by National SME Development Fund, a government backed fund. The capital will be used to expand its services to more cities to capture the market quickly.
(Top photo from Huolala.com)