Chinese auto parts e-commerce platform CassTime Technologies announced that it had raised a 250 million Chinese yuan ($36million) Series B3 round led by Luxembourg-based venture capital firm Mangrove Bay Capital.
Existing investors including Fosun RZ Capital and Shunwei Capital, and new investor Shanghe Capital also participated in this round.
Proceeds of this round will be used for the expansion of the domestic market and technology research and development.
Together with Series B2 round from China's Fuqi Capital and Zuoyu Capital in March and Series B1 round from Fosun RZ Capital and Shunwei Capital, CassTime has raised a total of $95 million in Series B round of financing.