Shuttle Bus App 'Dada Bus' Wins RMB 200 Mln Series B
36Kr.com, 9/29/15
Shenzhen-based Liuchi Technology, operator of mobile shuttle bus service app Dada Bus, recently announced that it has completed nearly RMB 200 mln in Series B funding from investors including Northern Light Venture Capital (NLVC) and Beijing-based Jingqiao Capital.
Dada Bus, Shenzhen-based vehicle-mounted video screen network operator Longfan Media, and Chinese mass-transit digital advertising operator VisionChina Media (Nasdaq: VISN) announced a strategic partnership earlier this month which will help Dada Bus to develop its advertising channels.
Users of Dada Bus must reserve a place on a shuttle bus to ensure that each customer has a seat. Customers are charged at a rate of RMB 0.4 per km. Dada Bus optimizes its bus routes and pick-up locations and is permitted to use special vehicle lanes on some roadways to minimize travel time.
Dada Bus has already launched more than 2,000 service routes in 13 Chinese cities including Shenzhen, Shanghai, Guangzhou, and Beijing, and it expects to operate in 30 first- and second-tier cities by the end of 2015.
Dada Bus CEO Zhou Ruijin explained that the company already has more than 1.5 mln users, and commuter shuttles are currently its most important business. In the future, Dada Bus plans to expand airport shuttle and local tourism services.
Dada Bus was founded in March 2015. It received RMB 5 mln angel investment and RMB 37 mln Series A investment both in May 2015.
Editor's Note: For more information on this topic, please see "Mobile Customized Bus Service App 'Dada Bus' Lands RMB 42 Mln Funding," MD 5/18/15 issue.
Keywords: Jingqiao Capital Longfan VisionChina funding wireless Northern Light Venture Capital Series B VISN Dada Bus Liuchi VC in-vehicle display out-of-home display shuttle bus app
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