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Auto Parts SaaS Platform 'Auto Cloud Pro' Completes RMB 50 Mln Funding, 8/15/17

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.

Keywords: M&A Internet funding Software as a Service UCF Group Auto Cloud Pro automobile Ding'ao

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