Shouqi Limousine & chauffeur secures USD 90M to broaden its business across China, & more

Car-hailing platform Shouqi Limousine & chauffeur receives USD 90M for Series B

Shouqi Limousine & chauffeur

Founded in: 1992

Financing status: RMB 600 million (USD 90 million) for Series B financing in 2017

Car-hailing platform, Shouqi Limousine & chauffeur, received USD 90 million for Series B on October 24 to expand its business across China.

Shouqi Limousine & chauffeur is one of the first car-hailing businesses in China. In July 2014, the company launched its plan to restructure itself by taking an international, Internet and market-oriented approach and reshaping its business around the real economy, Internet, and capital.

Founded in 1992 in Beijing, the company has attracted more than 20 million users, and register over 500,000 orders daily. The company currently owns and operates a fleet of more than 40,000 vehicles on its platform. Additionally, it has nearly 500 outlets across more than 46 Chinese cities. Shouqi Limousine & chauffeur has an entrepreneurial aptitude for the online car rental business in 26 cities, including Beijing, Shanghai, Shenzhen, Hangzhou and others.

Previously, Shouqi Limousine & chauffeur received financing funding from Taiping Asset Management Co., Ltd., together with Tianan Property Insurance Co., Ltd., Zimu (Beijing) Fund Management Co., Ltd. and CCB International and so on. This new financing round was led by China Oceanwide, which operates real estate, finance, energy, comprehensive investment, and capital management as the core business. The capital will be used to supplement the liquidity of the company and expand the business sectors related to the main business, as well as expand its business to more cities across china.

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AI developer DeePhi Tech receives USD 40M for Series A+ led by Ant Financial and Samsung

DeePhi Tech

Founder: Yao Song

Founded  in: 2016

Financing status: RMB 265 million (USD 40 million) for Series A+ financing in 2017

AI developer, DeePhi Tech, received USD 40 million for Series A+ on October 24 to invest in the research and development, as well as the commercialization, of new products.

DeePhi Tech is an AI developer that provides deep learning solutions based on its neural network compression technology and neural network hardware architecture. The company offers the Deep Neural Network Development Kit, known as DNNDK. DNNDK is a deep learning software development kit designed as an integrated framework that aims to simplify and accelerate deep learning applications. The company also offers AI chipsets, known as neural processing units, or NPUs, which are at the height of the market’s attention as a means to broaden the use of AI programs, especially in smartphones.  

DeePhi Tech is a Tsinghua-based startup founded in Beijing that is working with chip giants all over the world to support them with deep learning solutions, such as Samsung, MediaTek, Xilinx, and so on.

The company has existing investors, including GSR Ventures, Banyan Capital, MediaTek, Xilinx, Tinghua Holdings and so on. This Series A+ financing round was led by Ant Financial and Samsung. The company plans to use the funds to invest in the research and development of products in the field of security and big data, as well as market expansion plans.

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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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