China: EV rental firm PonyCar raises $22m; China Growth Capital leads Series B in PingCAP

People cross a street at Nanshan district in Shenzhen, China September 14, 2015. REUTERS/Bobby Yip

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

China Growth Capital has led a $15-million Series B financing round in Beijing-based TiDB database solution developer PingCAP, according to reports by Chinese media.

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.

Also read:

China Growth Capital leads $14m funding in Tiger Broker

Matrix Partners China leads series A in MFI platform Alading Bank

Mobike secures strategic investment from Temasek Holdings & Hillhouse capital

Chinese bike rental unicorn Ofo closes Series D+ from Ant Financial

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.