Auto Parts Marketplace CassTime Closes Series D1 Financing Round

Automotive Author: Niko Yang Editor: Yiru Qian May 18, 2022 08:01 PM (GMT+8)

The company bagged CNY 650 million (USD 100 million) from the Series B financing round previously.


China's auto parts selling platform CassTime finished the Series D1 funding round, receiving proceeds from some of the previous investors, according to people familiar with the matter.

The B2B platform company is also expected to complete the Series D2 round soon.

This Shenzhen-headquartered startup has attained several rounds of investment in total from large consortiums, including Sequoia China Capital, Shunwei Capital, Source Code Capital, Fosun RZ Capital, HUA Partners, H Capital and Greater Bay Area Homeland. 

Before this round, CassTime collected USD 80 million in the Series C1 funding round in December 2019 and USD 50 million in the Series C2 funding round in June 2020. 

The firm was founded in 2015 by core management from Huawei and Silicon Valley companies. Its business scope covers auto components trading services through its one stop platform CassTime Auto Parts (Chinese: 开思汽配), store management system No. 1 Workshop (1号车间) and other products, focusing on forging a data-driven supply chain.