Ecar Tech Obtains Financing from New Hope Group

36Kr reported on July 20 that Ecar Tech, a Shanghai-based technology start-up, had obtained a new round of investment from New Hope Group. Scheme Capital remained the exclusive financial adviser for the deal.

In April this year, Ecar successively completed both rounds A and A+ of financing worth nearly 100 million yuan from Fenxin Investment, Silicon Harbour Capital, and existing shareholder Chentao Capital. After this round of strategic financing, New Hope Group and Ecar will work together to build up the company’s smart cold chain, property and agriculture production.

Ecar, established in 2018, is an Intelligent Digital Vehicle (IDV) technology-based enterprise. Based on the core technology of “full line control + true intelligence + integrated die-casting” skateboard platform, it has developed many products featuring intelligent design engines, digital manufacturing, and cloud data mining. The products have been put to use in terminal logistics, retail, security, cleaning and other fields on a large scale.

In terms of the company’s chassis structure, IDV’s platform has both safety collision mechanisms and IP67 electrical compartments and has been throughsystematic CAE simulation analysis. The chassis is also lightweight in design, has matching powertrains, and handling stability tuning. It excels in performance indicators such as range, wading depth and climbing degree.

SEE ALSO: Autonomous Driving Startup Yunchuang Zhixing Completes Pre-A Round Financing

Shu Liang, CEO of Ecar, mentioned that unmanned small vehicles typically have the attributes of production tools but failures tend to happen during operation. As such, it is urgent to solve problems quickly. Ecar provides excellent hardware products to the market, and has also built a complete and professional operation and maintenance system and operation and maintenance network. It is able to provide accurate software and hardware operation and maintenance services around the vehicle to customers.

The terminal market in China has a strong market demand and a huge market volume, including multiple subdivision applications such as express, takeaway, medicine, fresh food, retail, cleaning, patrol, and others. Current estimates put the Chinese terminal market size at about a trillion yuan. Taking the express industry as an example, even in the 2021 epidemic, China’s annual express business volume reached 108.3 billion pieces, an increase of 29.9% year-on-year.