Dudupower, the first PaaS service provider for safe charging of e-bikes in domestic communities, received funds from several investors.
Shenzhen Dudu Iotian Technology Co., Ltd.(Dudupower, Chinese:嘟嘟换电), an IoT(Internet of Things) PaaS (Platform as a Service) integrated service provider, completed two rounds of financing worth CNY 400 million (USD 5.976 million) on Tuesday, led by Liping Duan from Guangzhou Kanghong Investment, with participation by Xiaochen Lu from Foshan Topcap Investment Management, news portal 36kr.com reported.
Dudupower, founded in 2018, is the first Chinese PaaS service provider of safe charging of e-bikes in communities. It has been committed to creating a safe, convenient and fashionable e-bike charging lifestyle, becoming an innovative enterprise integrating the R&D and design of IoT software and hardware as well as brand operation.
The Ministry of National Emergency Management has implemented stricter policies on the management of electric bicycle charging since May 2021. At the same time, pain points such as charge piles shortage and charging insecurity complicated the situation. Based on these problems, Dudupower created the first safe community-level charging platform for e-bikes by combining e-bike, battery and charging tanks through IoT.
In 2019, the annual sales of electric bicycles in China exceeded 30 million, and the inventory was close to 400 million. Around 150 million to 200 million electric bikes will be replaced with new national standard cars. This means excellent market potential in the e-bike industry. Zhicheng Liao, Dudupower’s founder, believed China is ushering in an unprecedented wave of e-bike replacement. Community-level charging is an untapped market."
The IoT international competitors of Dudupower include Verizon (America) and ADI (America) and domestic ones include Shenzhen Wondware Technology (Chinese:万维物联), Hangzhou Tuya Information Technology (Chinese:涂鸦智能) and COSMOPlat (Chinese:海尔卡奥斯).