Automobile Aftermarket Company Casstime Completes More than 200Mn D2&D3 Round Financing
Summary
EqualOcean has learned that Casstime (Chinese: ), an automotive aftermarket industrial Internet company, has completed two rounds of financing, D2 and D3, totaling CNY200 million. According to public information, Casstime has received financing from several top investment organizations.Founded in 2015, Casstime is an auto aftermarket technology company dedicated to building the industrys digital infrastructure and establishing the industrys service standards and credit system. At this stage, Casstime has more than 7,000 high-quality suppliers on its platform, and its business has expanded to 376 cities nationwide, with more than 3 million vehicles serviced per month. "At present, Chinas new energy vehicle ownership has reached 16 million, and the demand for after-sales maintenance will increase. Casstime CEO Jiang Yongxing said in a media interview.Compared with the front end of the car, the auto spare parts market has not received much attention at present, but with the increase in car ownership and the acceleration of the penetration rate of new energy vehicles, the auto spare parts market will form a new growth pole in the auto industry chain.Public information shows that the investment institutions of this round of financing include Wuhu New Energy Vehicle Investment Fund (Chinese: ), Mangrove Capital (Chinese: ), VLight Capital (Chinese: ) and Shenzhen High-tech Investment Fund (Chinese: ).