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Gobi, ABC lead $6m Series A for China's AutoBot

  • Andrew Woodman
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Gobi Partners and ABC Capital have led a $6 million Series A round for Chinese start-up AutoBot, which makes diagnostic tools for cars.

The company's two flagship products are AutoBot Pro and the AutoBot Mini - on-board diagnostic (OBD) devices that are plugged into a car's OBD-II outlet or cigarette lighter and collect and analyze data on vehicle performance.

The devices can measure whether repairs are needed, how the user is driving and fuel consumption. The information is transferred to AutoBot's accompanying mobile app via a Bluetooth connection. The two gadgets are being sold at RMB599 (US$96) and RMB129, respectively.

The start-up is targeting the China market and claims to have around 20,000 drivers using its products already. AutoBot - which eventually wants to expand into other markets - plans to use this round of funding for marketing, hiring, and R&D.

"China's automobile market has been the largest in the world since 2009," said Thomas Tsao, managing partner at Gobi Partners, in a statement. "In recent years, Chinese drivers have expressed significant demand for smart and affordable hardware solutions like AutoBot that improve driver experience and safety. As such, we are very optimistic about AutoBot's prospects in this market space,"

 

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