Tencent, Carlyle, Sequoia Lead USD 450 Mln Series E in O2O Car Maintenance Firm Tuhu
Tencent Tech, 9/15/18
Shanghai-based Lantu Information Technology, operator of online and mobile B2C car maintenance service and e-commerce platform Tuhu Yangche, recently announced the completion of approximately USD 450 mln in new funding jointly led by Chinese internet conglomerate Tencent (0700.HK), Carlyle Group, and Sequoia Capital. CCB International, Zhongjin Qiyuan National Development, and prior investors Joy Capital, Yuanyi Investment, Qiming Venture Partners, Goldman Sachs, CICC Alpha Investment Fund Management, and Welkin also participated in the round. Tuhu Yangche previously completed Series D funding led by Chinese internet conglomerate Baidu (Nasdaq: BIDU) and Goldman Sachs in 2016.
Tuhu Yangche will also partner with funding round co-leader Tencent in the fields of smart retail and supply chain financing to further improve its car owner services ecosystem.
Editor's Note: Chinese IT industry investment information portal IT Juzi reports this newest round of funding as Series E. For more information on this topic, please see Yaxia Automobile Buys 2% Stake in O2O Car Maintenance Platform Tuhu Yangche, MD 7/13/16 issue.
Keywords: M&A VC Internet automobile funding Tencent Carlyle Goldman Sachs Qiming Sequoia Capital 0700.HK Series E Lantu Information Technology Tuhu Yangche Joy Capital CCB International Yuanyi Investment Zhongjin Qiyuan Welkin CICC Alpha Investment
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