China’s Haoqipei raises $60m in Series D led by Access Technology Ventures

FILE PHOTO: An employee works on an assembly line producing electronic cars at a factory of Beijing Electric Vehicle, funded by BAIC Group, in Beijing, China, January 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Haoqipei, a Chinese B2B marketplace for auto parts, has raised $60 million in a Series D round, led by Access Technology Ventures, the venture capital and growth technology investment arm of US-based industrial group Access Industries.

Existing investors XVC Venture Capital, Jeneration Capital, DCM and SIG also participated in the round.

Founded in 2016, Haoqipei is an online, technology-driven trading platform connecting vehicle repair shops with auto part suppliers.

The company provides market price comparisons and online payments through its software as a service (SaaS) system, and offline warehousing and logistics services.

Haoqipei claims that it has a presence in more than 100 cities in Guangdong, Zhejiang, Hunan and other provinces. The company has raised more than $150 million in private capital to date.

It will use the current round of funding to further accelerate the growth of its online B2B auto parts marketplace. With the investment, David Yang, Principal at Access Technology Ventures will join Haoqipei Board of Directors.

“Haoqipei represents a unique opportunity to leapfrog offline auto parts distribution by moving directly to an online model,” said Yang.

He noted that Access Technology Ventures has been an investor in Haoqipei since 2018, calling it “a prime example of our investment thesis to back market-leading foundational technology companies serving large- end markets at compelling inflection points.”

Access Technology Ventures is the $2+ billion venture capital and growth technology investment effort of Access Industries, a privately held, US-based industrial group with global strategic investments of over $20 billion.

Access Industries was founded in New York in 1986 by Len Blavatnik, a global entrepreneur and philanthropist. Its portfolio companies include leading technology firms such as Alibaba, Amazon, Digital Ocean, Facebook, Opendoor, PinDuoDuo, Snap, Square and Tencent Music.

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.