China bus service start-up gets $31m from VCs

Dada Bus was launched in March this year. Through an app, users can reserve bus seats for journeys to work and other short distance travel. The company charges a RMB0.4 per kilometer transportation fee, which is nearly the same price as a metro ticket.

Dada Bus claims that its average travel time is approximately two thirds shorter than for public buses, thanks to the optimization of self-planned routes and pick-up and drop-off points. Its currently provides services on 2,000 transportation routes in 13 Chinese cities, including Shenzhen, Shanghai and Guangzhou.

Dada Bus raised RMB5 million seed funding and received a RMB37 million Series A round in May.

The new capital will be used to scale up the company's business. It plans to expand into 30 first and second tier cities by the end of this year, providing a variety of shuttle services, Ruijin Zhou, Dada Bus' CEO, told local media.

Dada Bus' new funding round came after industry peer Kaola Banche shut down its service two weeks ago. The bus-riding app provided 130 transportation routes, with more than 70 vehicles. Its business has transferred to Didi Bus, a shuttle bus app operated by Chinese ride-hailing app operator Didi Kuaidi.

Jingqiao Capital focuses mainly on internet and transportation start-ups in China.

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• Topics
• Greater China
• Venture
• Technology
• Expansion
• China
• Venture
• TMT
• Transportation
• Northern Light Venture Capital
• Growth capital