E-commerce platform ChangGouGo receives USD 14.5 million financing
Founded in: 2016
Financing status: RMB 100 million (USD 14.5 million) financing in 2017
E-commerce platform ChangGouGo on Tuesday received USD 14.5 million financing to launch physical outlets in a bid to boost its services across China.
ChangGouGo is a cross border e-commerce platform that provides customers with the best selling products from all over the world.
It acquires foreign partners in order to integrate its domestic and foreign business resources. Customers can buy products from other countries on its online platform, and then use the company’s express delivery services. ChangGouGo has its own established logistics and warehousing service system.
In addition, ChangGouGo encourages customers to share product information and their experience using these products on social media. In this manner, the platform can gain new customers and increase its social media exposure, and customers also benefit by getting additional discounts.
Founded in 2016 in Wenzhou, it has more than 600,000 registered customers with 100,000 of them being active daily users. In addition, it has reached partnerships with more than 2,000 domestic and foreign businesses to open online stores on its platform.
This financing round was led by Violet Home Textile Technology. The capital will be used to expand its categories and quality of products, and open physical stores in China to enhance the shopping experience for customers.
Advanced driving assistance systems developer MaxieyeTech receives undisclosed pre-Series A in millions of USD
Founder: Zhou Shengyan
Founded in: 2016
Financing status: 2017 pre-Series A round amounting to tens of millions in RMB (a few million USD)
Advanced driving assistance systems developer MaxieyeTech on Tuesday received an undisclosed pre-Series A round for a few million USD for the research and development of advanced self-driving systems based on deep learning and artificial intelligence.
MaxieyeTech is an advanced driving assistance and self-driving systems developer that mainly provides its business customers with self-driving solutions.
It has developed advanced driving assistance systems that can be used in cars to support smart features including lane departure warning (LDW), line keeping assistant (LKA), front vehicle collision warning (FCA), and so on. The company mainly sells products which are integrated with these advanced driving assistance systems and can be placed in cars. These products include cameras, circuit boards, structure brackets, and so on.
Launched in 2016, the company’s revenue exceeded RMB 3 million last year. It is collaborating with two partners to install its advanced driving assistance systems into two car models covering features such as LDW, FCW, and FCA. These two car models will be completed by the end of 2017.
This pre-Series A financing round was led by Shanghai Milestone Asset Management and One Capital. The company plans to use the fund to increase investment on its self driving systems based on deep learning and artificial intelligence, as well as sell its systems to more business partners.
(Top photo from 58pic.com)