Auto part supply chain platform Casstime receives USD 23M for Series B
Founder: Jiang Yongxing
Founded in: 2015
Financing status: RMB 150 million (USD 23 million) for Series B financing in 2017
Auto part supply chain platform, Casstime, received USD 23 million for Series B on October 18 to invest in market expansions.
Casstime is a business-to-business (B2B) trading platform for auto parts. On Casstime’s platform, users can acquire the auto parts code by entering their vehicle frame number and the name of the part. Categories on the platform are accurate down to each screw. Moreover, users can complete the maintenance and repair transaction with one click, which enhances the industrial efficiency and the user experience.
Founded in 2015 in Shenzhen, there are currently 50 patents available on Casstime’s platform, including vehicle identification number (VIN) resolver, data engine and intelligent identification of common parts. Additionally, its core database has already accumulated more than 100 million VINs and 7 million SKUs, with 15 high-end brands, including Mercedes-Benz and BMW. By September, there were over 5,000 vehicle maintenance and repair enterprises registered on the platform with more than 200 suppliers in over 60 cities nationwide.
This Series B financing was led by Fosun RZ Capital, with existing investors, Shunwei Capital and Hua Partners participating. The company plans to use the funds to invest in the research and development of forming a business matrix to promote the develop a product market to transition from breadth to depth.
Second-hand goods recycling platform iXiandou receives USD 15M for Series B
Founder: Fang Hao
Founded in: 2015
Financing status: RMB 100 million (USD 15 million) for Series B financing in 2017
Second-hand goods recycling platform, iXiandou, received USD 15 million for Series B on October 19 to expand its logistic and warehouse system to more cities.
iXiandou is a second-hand goods recycling platform that offers residents, enterprises, merchants, and other users door-to-door recycling services for renewable resources, like paperboard, plastic bottles, books, newspapers, and home appliances, among others. It mostly targets enterprise customers for regular door to door recycling services, and renews or remanufactures those goods for recycling.
Founded in 2015 in Beijing, iXiandou has so far built eight factories for recycling in Beijing and Tianjin. Meanwhile, it is establishing warehouse and logistics systems itself to better manage the whole recycling process. Additionally, the area of its factory exceeds 7000 square meters. By now, the company has over 200 employees operating door to door services, logistics, and recycling.
This new financing round was led by Maison Capital, with Golden Brick Capital and Tendence Capital participating as investors. The capital will be used to build more warehouses across China to facilitate the efficiency of its logistics, as well as expand its business to more cities.
(Top photo from 699pic.com)