Thank you for subscribing.

Please check your email to confirm.

Unsubscribe success..

You already subscribed and confirmed.

Please check your email.

You already subscribed.

Please check your email to confirm.

Dishangtie Has a Truck with Investors
Dishangtie Has a Truck with Investors
DST-branded cars. Image credit: Dishangtie official website.
Associated Company
EqualOcean EqualOcean

New energy vehicle rental service platform Dishangtie Car Rental (地上铁) closed its Series B funding round worth USD 70 million today. This round of financing was led by Jeneration Capital; Far East Horizon and Idinvest Partners also took part. Index Capital played a financial advisory role. Company's officials said, the money raised will be used to further improve the urban services quality, boost operational efficiency and enhance the service network density.

Prior to this latest round of financing, the Shenzhen-based company has raised more than CNY 650 million (USD 94 million) in total known funding obtained from a number of notable investors such as Qiming Venture Partners, Matrix Partners China and Bojiang Capital Management Group. It is important to stress that the list of investors has completely changed this time: existing backers didn't enlarge their stakes.

Dishangtie (DST) is a 2B company focusing on providing rental services. Its fleet comprises electric vehicles only. According to the company's official website, there are 13 different car models of the four size-based categories for a short-term and long-term lease. Besides, the firm operates as a full-service platform, providing core facilities (such as charging piles) maintenance, insurance, routine repairs and other auxiliary services.

DST-branded vans and trucks now can be met in 22 biggest cities across China, and the company is planning an expansion to the seven new urban areas countrywide. However, the network of charging stations is still undeveloped as the systems are applied only in the Pearl River mega-city and Chengdu. However, the cars are still got charged by use of other private and public charging systems.

China is the largest electric-vehicle market with more than 1 million EVs sold in 2018. The industry is expected to keep on growing rapidly, ignited by both objective (tech improvement) and subjective (state support) forces. As for the transportation market in China, it is, indeed, bullish, and the room for growth is huge. Dishangtie might consider breaking into other financially sound regions such as Yangtze River Delta Economic Region or Bohai Economic Rim in the near future.

Enterprise Information

EqualOcean is a leading industry tech media and an investment research company.
CATEGORIES: AI, Research
Last Funding Type
Series C
Number of Employees
200
Number of Funding Rounds
6
Total Funding Amount
26.79M

Enterprise Information

EqualOcean
EqualOcean is a leading industry tech media and an investment research company.
CATEGORIES: AI, Research
Last Funding Type
Series C
Number of Employees
200
Number of Funding Rounds
6
Total Funding Amount
26.79M

Reach the Author!

Ask the author questions about the copied text

MOST READ

THE LATEST

Any Question

EqualOcean is a leading industrial tech media and investment research company that focuses on technological and industrial innovation in China.

We aim to assist Chinese entrepreneurial enterprises to break into the global market and provide overseas investors, VCs, and enterprises with a deeper understanding of China's business environment and to seize opportunities in China.

Join over 800,000 of your peers