Mobile Chauffeur App E Daijia Lands USD 100 Mln Series D
Lieyunwang.com, 5/06/15
Beijing-based Yixin Yixing Automotive Technical Development Service, operator of mobile chauffeur service app E Daijia, has landed USD 100 mln Series D financing valuing the company at USD 800 mln. The transaction was led by Warburg Pincus with participation from existing investors Matrix Partners and Lightspeed China Partners. The funds will be used to improve technology and services such as the creation of an online driver recruitment system, a comprehensive customer safety guarantee system and growth of brand recognition.
E Daijia intends to develop the following areas:
1. Nationwide expansion of its service for intoxicated passengers to second- and third-tier cities, covering 200 cities within a year.
2. The launch of daytime chauffeur services operating from 7am to 6pm such as picking up or delivering people, and car washing. Traditionally chauffeuring operates only at night.
3. Development in foreign markets. A subsidiary company has already been set up in South Korea which will soon commence operations, and E Daijia aims to grow its business abroad.
Editor's Note: For more information on this topic, please see "Mobile Chauffeur App E Daijia Launches Carwash Service," MD 2/02/15 issue, and "58.com Invests in Designated Driver App 'E Dajia'," MD 10/17/14 issue.
Keywords: overseas Matrix Partners VC chauffeur app wireless Warburg Pincus Yixin Yixing E Daijia funding fourth-round LightSpeed Venture Partners mobile application valuation
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