Ding'ao (Shanghai) Network Technology, operator of automotive parts Software as a Service (SaaS) platform "Auto Cloud Pro," recently announced completion of RMB 50 mln in strategic funding led by Beijing-based UCF Guosheng Equity Investment Fund Management, a subsidiary of integrated financial services provider UCF Group. In the future, the parties plan to cooperate to develop an automotive component supply chain financing platform.
Auto Cloud Pro began as a vehicle depreciation assessment SaaS platform. The company later launched an automotive component look-up system called "Peidao" in late 2016, signaling its entrance into the auto parts market.
Editor's Note: For more information on this topic, please see "Auto Parts SaaS Platform 'Auto Cloud Pro' Lands RMB 120 Mln Series A+," MD 7/27/17 issue.