TOGO secures USD 22M to accelerate its car sharing services for urban tourists, & more

Car sharing platform TOGO receives USD 22M for Series B

TOGO

Founder: Wang Lifeng

Financing status: RMB 146 million (USD 22 million) for Series B financing in 2017

Car sharing platform, TOGO, received USD 22M for Series B on October 25 for market expansion plans.

TOGO is a car sharing platform based on mobile Internet that provides users with instant and short distance travel services in cities. It enables users to rent cars based on self-service and return cars flexibly, to bring users a high-quality travel experience. At this stage, TOGO mainly operates energy-efficient, environmentally friendly cars for rental, such as Mini, Smart, Jeep, Audi, A3, Citroen, Peugeot, and other models.

Users can find the nearest vehicle using LBS technology and finish the reservation  immediately. All of its cars can be controlled with mobile phones via TOGO’s app, including the door switch, flashing lights and other functions. After users reach their destination, they are asked to park the cars in available parking lots, and complete the payment online. TOGO has a smart operation system based on big data, which arranges employees to dispatch its cars from remote places to crowded places to improve efficiency. Additionally, TOGO charges by the minute with a RMB 1500 deposit for fines for regulation violations. After TOGO confirms there are no violation, the deposit will be returned to users.

Founded in Beijing, its services are available in five cities, including Beijing, Guangzhou, Shenzhen, Shanghai, and Chengdu. It plans to comprehensively cover these five cities before expanding its services to more cities, especially to these second-tier and tourist cities.

This new financing round was led by SIG, with ZhenFund participating as investors. The capital will be used to solidify its business in existing cities, as well as expand to more cities. Meanwhile, it will introduce more vehicle modes to offer more choices to users.

Photo from 699pic.com

Medical imaging platform Huiyihuiying receives undisclosed Series B in tens of millions of USD

Huiyihuiying

Founder: Chai Xiangfei

Founded in: 2015

Financing status: Series B in 2017 amounting to hundreds of millions of RMB (Tens of millions of USD)

Medical imaging platform, Huiyihuiying, receives undisclosed Series B in tens of millions of USD on October 25 to broaden its service range.

Huiyihuiying is a medical imaging platform that provides patients with cloud-based medical recognition and intelligent diagnosis services. Through its cooperation with scientific research institutions and the establishment of the human organ model as well as the depth of neural network technology, it’s reached a high degree of recognition in diseases, and integrates the chest, brain magnetic automatic diagnosis into the actual operation process.

Founded in 2015 in Beijing, its services are connected to more than 700 hospitals across China, including more than 500 primary hospitals and more than 200 first-class hospitals. It has a team with over 100 employees, with two thirds of them working for the research and development of its products.

This Series B financing round was led by Delta Capital. The company plans to use the funds to broaden its service range, to expand its smart diagnosis service from medical recognition and intelligent diagnosis to one-stop treatment services. Meanwhile, it will also invest in market expansion plans to copy its service to more hospitals in more cities.

(Top photo from Mytogo.com)

Kaikai Shi
Kaikai Shi

Kaikai Shi majored in Biotechnology at Zhejiang University. He now runs the Tech Financing column for AllTechAsia. 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. Write to him: kai[at]alltechasia.com

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