Chinese electric vehicle rental firm PonyCar has raised Series B funding led by Huiyou and Oppo. China Growth Capital has led a $15-million Series B round in Beijing-based TiDB developer PingCAP.
EV car rental firm PonyCar raises $22m
Huiyou Investment Management and Chinese smartphone vendor Oppo have led a RMB150-million ($22 million) Series B round in Shenzhen-based Letuhui Technology, an operator of electric vehicle rental platform known as PonyCar.
Chinese media reported that Shenzhen-based investment bank China Peakedness also joined this round.
Launched in 2016, PonyCar runs operations in Shenzhen and Guangzhou. It has deployed about 2,000 cars, each of which generate a daily income of RMB150, and hundreds of car-charging outlets.
It also gains revenues from providing advertisement space inside and outside the cars.
The latest investment will help it expand into competitive markets such as Beijing and Shanghai as well as 10 second-tier cities, the company told Chinese media.
Earlier this year, PonyCar received a RMB50 million (US$7 million) angel investment from Yunan province-based auto-maker Zhongzhiyuan Group and Guoxin Fund.
China Growth Capital leads Series B in PingCAP
PingCAP received an angel investment from Matrix Partners China in 2015 and undisclosed Series A funding from Yunqi Partners in 2016.
TiDB is a distributed NewSQL database compatible with MySQL protocol.
“TiDB, a new generation database management product developed by PingCAP, has enjoyed great reputation among international developers and attracted a group of enthusiastic fan users,” said Wu Haiyan, managing partner at China Growth Capital.
The founders of PingCAP are engineers and architects who previously worked at Twitter, JD.com, Baidu.com, Qihoo 360, Sogou.com and Wandou Labs.