Bike-sharing startup Qicaidanche receives USD 14.5 M for angel round

Qicaidanche

Founder: Luo Haiyuan

Founded in: 2017

Financing status: RMB 10 million (USD 1.4 million) for angel financing round in 2017

The sharing economy is a new business model in China that drives many industries to launch new services or welcome new startups, and bike-sharing which started in 2016 continues to be competitive in China. Although some bike-sharing giants like ofo and Mobike have their services covered across China, new competitors with new ideas continue to enter the almost saturated market to compete with these giants for a slice of the pie.

Qicaidanche is a new bike-sharing startup that was founded in 2017 in Beijing. Unlike its competitors that manufacture bikes in one color, the company provides bikes in several colors for its users, as its name “Qicai” means seven colors of the rainbow in Mandarin. In addition, its bikes have built-in LED lights in the tires which emit light when it is dark, and becomes more flashy when combined with the colors of the bikes. In addition, the company dispatches its bikes on the streets based on artificial intelligence and big data technology.

The investors for this angel financing round were undisclosed. With this capital, it will start to place its bikes in some first-tier cities in China, and then expand its business to 15 new cities every month till its bikes cover the whole country.

Cloud computing service provider ChinaC receives USD 72 M in financing

Photo from 58pic.com
Photo from 58pic.com

ChinaC

Founded in: 2010

Financing status: RMB 500 million (USD 72 million) financing in 2017

ChinaC is a cloud computing service provider that provides cloud computing services, leading cloud operation support, and the innovation of outstanding technologies such as cloud CDN to its domestic and global customers. It aims to become China’s largest independent cloud computing service providers and a one-step cloud computing platform.

Founded in 2010 in Wuxi, it currently has branches in Beijing, Shanghai, Xiamen, Shenzhen and Guangzhou, as well as operation centers in Hong Kong and New York. ChinaC is the only cloud computing service provider for Haier, Shanghai Municipal Bureau of Local Taxation, and Wuxi Metro, and also provides cloud computing solutions for some global 500 companies.

This funding was mainly from Tongkong Capital and Haitong Capital, and ChinaC plans to use the fund to expand its technological advantage and improve efficiency of enterprise management, as well as prepare for IPO (Initial Public Offerings) listing.

(Top photo from 58pic.com)

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Kaikai Shi
Kaikai Shi majored in Biotechnology at Zhejiang University. He now runs the Tech Financing column for AllChinaTech. 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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