Dudu Bus raises 100 million yuan in Series B round
Shenzhen-based online bus charter platform DuduBus has raised 100 million yuan in the completed its B round financing.
Dudu Bus, a Shenzhen-based online bus charter platform, announced on May 9 that it has raised 100 million yuan in the latest investment round. Leading the round is a listed company Rainbow Fine Chemical, with support from Guoxin Fund and other institutional investors.
Dudu Bus, launched in April 2015, mainly offers its commute shuttle service in CBD areas in Shenzhen, with an average passenger load of 83%. Currently, the company is operating 2,000 routes and has accumulated over 1 million users. “As the route covers mainly community users, it maintains a high retention rate,” DuduBus’s CEO Yixun Liu said. Other than commute shuttle service, Dudu Bus also provides breakfast, newspaper, Wi-Fi and other value-added services that sets the experience apart from traditional bus services.
The company received Pre-A round financing of RMB12 million from Susino Umbrella and K2 Ventures last June and completed its A round financing of RMB52 million last September.
After the latest investment, Mr Liu said new-energy vehicles will be used for smart public transport system.(Translated by Claire)