Alibaba-backed Chinese car wash firm YGL hits unicorn valuation after Series D round

Alibaba-backed self-service car wash firm Yigongli (YGL), which was developed by Shanghai HELIOS Network Technology, has achieved a unicorn valuation of over $1 billion after raising “hundreds of millions of US dollars” across two tranches in its Series D round.

The transactions include a Series D1 round from Sigma Delta Partners Investment (SDP Investment), which focuses on prime properties in Tier I cities in China; and a Series D2 round from Goldman Sachs Asset Management, the startup announced in a press statement.

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