The company has completed several hundred million financing since its establishment.
Learn, Auto Parts Supply Chain Service Provider “Car Tongyun” announced today that it has completed tens of millions of dollars in C+ round financing, led by Dongfang Hongtai Capital, and Daxie Capital and Investment. Huafeng Capital acts as the exclusive financial advisor.
Che Tongyun is a company that continues to follow up on reports. The company was founded in December 2014 and has currently completed several rounds of financing, after investors included Fenghou Capital, Maiteng Ventures, Taoshi Capital, Jingwei China, Qingsong Fund, Shoutai Jinxin, LANXESS Investment, Star VC and UCAR Industry Fund.
Che Tongyun founder Hao Dingwen told that Che Tongyun is a direct platform enterprise with “light assets and heavy service”. Specifically, Che Tongyun docked suppliers upstream, using smart cloud warehouses to connect with suppliers’ ERP systems, and accessing suppliers’ products to achieve accurate product search and maintain market prices. At present, Super Cloud Warehouse has docked at least 30 mainstream ERP management software on the market.
In the downstream, Hao Dingwen said that they do not adopt the ground push mode, but take the “big B route.” Che Tongyun’s insurance customers include 35 companies including PICC, CPIC, Cathay Pacific, Huatai, Taikang Online, Sunshine, Dadi, Cheonan, Changan Responsibility, China, Yongan, Yongcheng, Dinghe, Yingda and Bohai. In addition, they have established cooperation with large maintenance chains and automobile 4S shop groups. There are about 70,000 repair shops registered on their platforms, mostly accident car repair centers. At present, the purchase amount of collision parts in the accident vehicle repair center has exceeded 1 million.
Hao Dingwen told us that this C+ round of financing is mainly used for: First, continue to improve data capabilities; Second, promote the development of AI intelligent damage system to 2.0 and 3.0; Third, strengthen regional expansion, expand the number of performing cities, and undertake more Multi-regional business; Fourth, Chetong Cloud will try to control more core resources, through the cooperation and even shareholding, with the maintenance chain, system companies, logistics companies, etc. to deep dock, in order to achieve control, control scenarios, control logistics.
For this investment, Ma Yuntao, CEO of Dongfang Hongtai Capital, said that the automotive after-service market has broad prospects and they will continue to be optimistic about this track. Che Tongyun’s accessory database, intelligent cloud warehouse system and forward-looking research and development of AI damage tools all help to improve platform performance and better serve B-side customers. Dongfang Hongtai Capital will help Che Tongyun grow in the capital market and global industrial resources.
The chairman and CEO of Daxie Capital, Li Hui, said that after investing in the car last year, Daxie Capital supported the company’s focus on research and development of databases and intelligent damage. Currently, the carTongyun’s upstream and downstream integration capabilities and platform advantages have been strengthened, and scale advantages and growth potential have emerged. Daxie will continue to help Che Tongyun in expanding strategic cooperation resources, financing and operations.
Huafeng Capital VP Cai Yilun said that auto parts are one of the few profitable industries in the B2B supply chain, with very high integration value. More than 80% of the auto parts market share comes from the purchase of accidents caused by insurance claims, and the market evolution of the United States over the past 40 years has fully confirmed this point. “Chetong Cloud occupies the core position of this value chain, and has long dig deep into the needs of upstream and downstream customers, forming a supply barrier for perfect data and system capabilities.” Cai Yilun said, “Choose Chetongyun as the target company for auto parts industry services” It is also because of the business concept, pattern view and strong sense of mission that the founder Hao Dingwen has shown, which will help the company further define and integrate the industry.”