China's transport system startup TransWiseway snags $103m from Ant Financial, others

China's transport system startup TransWiseway snags $103m from Ant Financial, others

A man offering his services as a road guide stands outside of a logistics park in Chengdu, China, on Tuesday, April 11, 2017. Photographer: Qilai Shen/Bloomberg

TransWiseway, a Chinese developer of transportation information systems for traffic monitoring, has raised RMB700 million ($102.6 million) in a Series A financing round led by Alibaba’s fintech arm Ant Financial and China TransInfo Technology Corp’s fund, according to its announcement on Tuesday.

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