“Xiangdao Travel” completed the B round of strategic financing of over 1 billion yuan, accelerating the layout of SAIC’s new four modernizations


Visit the original URL

Chuangyebang was informed that recently, Xiangdao Travel, a strategic mobile travel brand of SAIC Group, announced at the partner conference that it had completed the B round of financing of over RMB 1 billion invested by SAIC Group, Momenta, Gaohang Management Consulting and other institutions. The post-investment valuation of Xiangdao Travel has reached 1 billion US dollars, and it has officially entered the ranks of “unicorns” in the industry.

The successful completion of the B round of financing indicates that the sustainable, profitable and high-quality development business model of Xiangdao Travel has been completed. After the completion of this round of financing, under the premise of adhering to full compliance, Xiangdao Mobility will promote the continuous explosive growth of all-scenario business, strive to achieve the corporate development goal of being the first in both compliance rate and market share, and will launch an IPO plan in due course. The sword refers to “the first share of the full-scene travel platform”.

Xiangdao Travel CEO Zhuang Jingxiong announced that Xiangdao has completed 1 billion yuan in Series B financing

As a strategic mobility brand of SAIC Group, Xiangdao Mobility is one of the important strategic layouts for SAIC to realize the new four modernizations (ie electrification, intelligent networking, sharing, and internationalization). Since the company’s business has been established for three years, based on the successful practice and massive data in the travel market, Xiangdao Mobility has realized the linkage and feedback to the upstream and downstream of SAIC’s industrial chain, helping the group to comprehensively transform into a user-oriented high-tech enterprise.

The Series B financing has received additional investment from SAIC Group. Xiangdao Mobility will deeply integrate into SAIC’s huge car manufacturing industry chain, and accelerate the development of innovative businesses such as online car-hailing vehicle customization; at the same time, it will improve its refined operation capabilities and become bigger and stronger. The “travel +” innovative ecology further helps SAIC Group achieve the strategic goals of the new four modernizations.

“Xiangdao Robotaxi”, the first L4 autonomous driving operation platform for domestic auto companies

In December 2021, Xiangdao Robotaxi, one of the four major innovative development strategic projects of SAIC Motor and the first L4 autonomous driving operation platform for domestic auto companies, was officially launched. The project fully integrates SAIC’s artificial intelligence laboratory, Momenta, Xiangdao Mobility and other advantages of SAIC’s ecosystem and industrial chain, organically combines “mature travel operation experience” with “leading autonomous driving technology”, and innovatively builds “intelligent manufacturing + AI + operation” ” Trinity model, and work together to explore the application and innovation of L4 autonomous driving technology in urban travel scenarios.

After working with Xiangdao Travel to create a successful business example of win-win cooperation between domestic autonomous driving technology and online car-hailing platforms, autonomous driving company Momenta also injected capital into Xiangdao Travel as an investor in this round.

Xiangdao Momenta’s strategic investment from Momenta not only proves its strong business development ability and professional team ability, but also provides a solid technical guarantee for the continuous commercialization of Xiangdao Robotaxi product business. The two parties will jointly deploy the Robotaxi travel ecosystem, continue to accumulate scene data and operational experience, conduct rapid technical iterations through the data-driven flywheel, create a first-class autonomous driving travel experience, define new travel in the future, and realize an efficient and scalable business strategy.

The layout of Xiangdao Travel’s “full-scene smart travel complex”

“As a travel service company rooted in Shanghai, deeply cultivating the Yangtze River Delta, and radiating across the country, Xiangdao Travel has successfully completed the B round of financing under the impact of the new crown epidemic. Thanks to our consistent adherence to quality, safety, and compliance operations, we have successfully run through. A sustainable, profitable and high-quality business model.” said Zhuang Jingxiong, CEO of Xiangdao Travel, “We will insist on investing in the ‘correct but difficult things’ such as safety compliance, quality service and technological innovation, and actively respond to the Ministry of Transport and others. Regulatory requirements, committed to the pursuit of steady and orderly expansion, and strive to be a good benchmark for industry compliance development.”

Xiangdao Mobility continues to lead the development of industry compliance. According to the supervision data of the Ministry of Transport, since last year, the rate of order fulfillment for both pedestrians and vehicles in Xiangdao has been ranked first for 7 consecutive months. In the business spot checks of the Shanghai Municipal Commission of Transportation and other departments, the management model of the fully compliant and safe operation of Xiangdao Travel has been highly recognized. At the beginning of this year, Xiangdao Travel also ranked first in the 2021 online car-hailing service quality assessment in Nanjing, Hangzhou, Ningbo and other places, demonstrating the quality strength of the preferred travel brand in the Yangtze River Delta. As a representative of the compliance development of the car-hailing industry in Shanghai and the Yangtze River Delta, Xiangdao Travel has also been promoted nationwide by the Ministry of Transport as a recommended case. Xiangdao Travel was also selected into the 2021 list of “Key State-owned Enterprise Management Benchmarks” by the State-owned Assets Supervision and Administration Commission of the State Council, setting a model for the industry’s compliance development.

At present, Xiangdao Travel has fully opened up the business data of the middle and Taiwan, relying on the ACTS technology strategy to improve the business scale and profitability, and continue to expand its influence: Among them, the online car-hailing business “Xiangdao Special Car” has been rapidly deployed in first-tier and new first-tier cities, with solid Do a good job in quality and safe customer service; deeply cultivate the “one core and five circles” cities in the Yangtze River Delta, and consolidate the preferred brand of one-stop travel in the Yangtze River Delta. The enterprise-level service brand “Xiangdao Car Rental” has been deeply involved in the industry for 30 years. Its business covers 154 cities, serving more than 300 Fortune 500 companies, and its long-term rental business has the largest market share in China. The innovative business Robotaxi fleet landed in Shanghai and Suzhou, with more than 100 open operation sites, and was selected as the first batch to be selected as the “unveiled leader” list of the Shanghai Intelligent Connected Vehicle Demonstration Application Innovation Pilot, and the commercialization innovation was further implemented.

media coverage

36Kr investment community start-up state
event tracking

This article is reprinted from: https://readhub.cn/topic/8ivdPFgCpbd
This site is for inclusion only, and the copyright belongs to the original author.

Leave a Comment