Yunma Rental completes multi-million-yuan seed round

Yunma Rental, a takeaway delivery vehicle leasing platform, has completed a seed round of financing, raising millions of yuan from Qiu Yiwu. Currently, the company is conducting a new round of financing.
Yunma Rental was established in October 2019. It provides a vehicle rental service for takeout riders and others through an agent model. The lithium batteries used in Yunma’s electric two-wheele

Yunma Rental, a takeaway delivery vehicle leasing platform, has completed a seed round of financing, raising millions of yuan from Qiu Yiwu. Currently, the company is conducting a new round of financing.

Yunma Rental was established in October 2019. It provides a vehicle rental service for takeout riders and others through an agent model. The lithium batteries used in Yunma’s electric two-wheelers are custom-made by Guoxuan Hi-tech.

The mileage can reach 150 kilometers, which can fully meet the rider’s one-day travel needs, so that they does not need to spend time to recharge or change the battery during work.

At the same time, Yunma hires city and regional agents to occupy the market. At present, the team focuses on the first and second tier cities, and has expanded to ten cities including Hangzhou, Hefei, Beijing, Foshan, Nanjing and more.

Notably, Yunma recently reached a strategic cooperation agreement with Guoxuan Hi-Tech. The latter company will provide a 50 million yuan worth of lithium batteries for Yunma Rental.

Guoxuan Hi-Tech is a leading company in the Chinese lithium battery industry, ranking in the top 3in terms of installed capacity, after CATL and BYD. In the future, Yunma Rental also plans to extend to the lithium battery rental business.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/04/yunma-rental-completes-multi-million-yuan-seed-round/.

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