P2P car rental startup Atzuche has received funding of RMB60 million (approx: US$9.66 million) in its Series A financing round that has Banyan Capital and Qingcong Capital among the investors.
Atzuche’s cofounder Lechang Lin said the company sets itself apart from typical P2P car rental platforms in China like PPzhuche, by focusing on penetrating southern China and surrounding regions with its products and already has offices in eight cities in core regions as of May 2015.
Atzuche, established in June 2014, produced a device called KKbot smart box last August that offers GPS positioning and navigation functions as well as car diagnostics and consumer behavior analysis of passengers.
With Atzuche’s app, users can see vehicle’s position, distance traveled, fuel usage, speed alerts, damage alerts, emergency alerts and local weather data while drivers can also monitor the car battery, engine speed, cooling system and water temperature and damage code. Atzuche can also rate renters through KKbot for car owners’ reference in selecting renters.
Atzuche can also tap into the big data collected from its platform to paint a detailed picture of user’s commuting needs in order to enhance its range of service.(Translation by David)
