Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Mobile Umbrella-sharing Platform UU San Secures RMB 8-digit Angel Funding, 8/03/17

Nanjing-based Chaochuo Network Technology, operator of mobile umbrella-sharing platform UU San, has secured RMB 8-digit angel funding from Will Hunting Capital and Wu Chao, founder of mobile rent installment platform 58 Fangdai.

UU San began putting umbrellas into circulation in May this year, primarily around subway stations and the entrances and exits to supermarkets. Users can scan a QR code via the UU San app or UU San's official account on Tencent's (0700.HK) WeChat mobile messaging app to rent an umbrella from a rental station. Users must first pay an RMB 20 deposit for the service, and can then receive the first 15 days of rental for free. Each additional day is charged at RMB 0.5 per day.

UU San's umbrellas are designed for use in all types of weather, and have already been rolled out in multiple cities across China. Over the next three months, UU San plans to put more than 2 mln umbrellas into circulation across the country.

Keywords: Chaochuo UU San umbrella sharing funding VC wireless Will Hunting Capital Wu Chao mobile application


Please note, all fields are required.
None of your personal information will be shared with third parties.


Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports