Our weekly column summarizes the tech financing highlights in China this week.
Car trading businesses are spreading in China, including new car e-commerce and used car trading between individuals and dealers. This process is complex and lacks a shared information platform, which makes the turnover rate of car transactions lower and lower. These new car trading platforms flourish because they all integrates innovative technologies and bring new solutions for this industry. This week we see Chehaoduo, a car trading platform that secured USD 180 million for Series B+, and Alibaba backed car trading service provider, Dasouche, secured USD 335M for Series E.
Car trading group Chehaoduo receives USD 180M for Series B+
Chehaoduo
Founder: Yang Yonghao
Founded in: 2015
Financing status: RMB 1.2 billion (USD 180 million) for Series B+ financing in 2017
Car trading group, Chehaoduo, received USD 180 million for Series B+ on October 31 to integrate new retail technology in the car trading business.
Electric bicycle charging service provider Xlvren receives USD 12M for Series A+
Xlvren
Founded in: 2015
Financing status: RMB 80 million (USD 12 million) for Series A+ financing in 2017
Electric bicycle charging service provider, Xlvren, received USD 12 million for Series A+ on October 26 for market expansion plans.
Big data service provider Citycloud International receives USD 30M for Series B
Citycloud International
Founded in: 2012
Financing status: RMB 200 million (USD 30 million) for Series B financing in 2017
Big data service provider, Citycloud International, received USD 30 million for Series B on October 26 to build a smart city ecosystem.
Filter camera app Faceu receives USD 50M for Series C
Faceu
Founder: Guo Lie
Founded in: 2015
Financing status: RMB 333 million (USD 50 million) for Series C financing in 2017
Filter camera app, Faceu, received USD 50 million for Series C on October 30 for market expansion plans.
Tutor matching app Qingqing Jiajiao receives USD 55M for Series D
Qingqing Jiajiao
Founder: Liu Changke
Financing status: RMB 366 million (USD 55 million) for Series D financing in 2017
Tutor matching app Qingqing Jiajiao received USD 55 million for Series D on October 30 for the research and development of an online education system.
Used-car online auction platform Tiantian Paiche receives USD 80M for Series C2
Tiantian Paiche
Founder: Wang Weiwei
Founded in: 2015
Financing status: RMB 532 million (USD 80 million) for Series C2 financing in 2017
Used-car online auction platform, Tiantian Paiche, received USD 80 million for Series C2 on October 30 to expand its trading services to more cities in China.
Smart education firm Fclassroom receives USD 15M for Series B
Fclassroom
Founder: Li Kejia
Founded in: 2014
Financing status: RMB 100 million (USD 15 million) for Series B financing in 2017
Smart education firm, Fclassroom, received USD 15 million for Series B on October 30 to optimize its operation of products.
Unmanned convenience store startup Xingbianli receives USD 57M for Series A+
Xingbianli
Founded in: 2017
Financing status: RMB 380 million (USD 58 million) for Series A financing in 2017
Unmanned convenience store, Xingbianli, received USD 57 million for Series A+ on November 1st for market expansion.
Facial recognition firm Face++ receives USD 460M for Series C
Face++
Founder: Yin Qi
Founded in: 2011
Financing status: RMB 3 billion (USD 460 million) for Series C financing in 2017
Facial recognition firm, Face++, received USD 460 million for Series C on November 1st to develop artificial intelligence superpower for global expansion.
Car trading service provider Dasouche receives USD 335M for Series E led by Alibaba Group
Dasouche
Founder: Yao Junhong
Founded in: 2012
Financing status: RMB 2.2 billion (USD 335 million) for Series E financing in 2017
Car trading service provider, Dasouche, received USD 335 million for Series E led by Alibaba Group on November 1st to improve its services by working with Alibaba’s financial branch, Ant Financial, for innovative financial products.
(Top photo from 58pic.com)
