(Yicai Global) Sept. 7 -- Electric bicycle (e-bike) secure charging service operator Yunzhichong has secured funding from Wang Xinghua, co-founder of 51.com and 2345.com and chairman of iSmart.com, the firm said yesterday.
The funds will go to expand businesses beyond charging post operations and to develop smart device applications, 36kr.com reported.
E-bikes are one of the most popular means of transport in China, but concerns are growing over charging safety. The rise of the e-bicycle sharing market has created considerable demand for secure charging facilities.
E-bikes are faster than traditional bicycles and require virtually no manual input. However, charging e-bikes poses fire and electric shock hazards.
Yunzhichong's mission is to solve these issues. It started last December as an e-bike secure charging solution provider. Users can access the service through the Yunzhichong app. Its management system automatically forwards charging information to e-bike owners and property managers on a real-time basis, so that they can check their charging status whenever needed.
Yunzhichong systems are now installed in dozens of communities with tens of thousands of users, including bicycle owners and property management companies. The platform has a high level of user activity, which is increasing at a rate of 25 percent per month.
Yunzhichong is marketing its products and services on a nationwide scale, and recruiting local partners across China.