China car services firm Tuhu raises $100 million from Joy Capital, Welkin

August 11, 2015 creative capital, chinese, funding, funding-round, internet, investors, legend-capital, match-feature, private-equity, reuters, start, the-end, the-start, venture-capital

Tuhu, a Chinese online platform for automobile services and products, said on Tuesday it raised about $100 million from a group of investors including venture capital firm Joy Capital, looking to expand its distribution network and warehouses. Joy Capital, whose founders include the former head of telecommunications investments at Legend Capital, led the funding round, Tuhu Founder and Chief Executive Min Chen said. Other investors included private equity firm Welkin, leasing company Far East Horizon Ltd and existing Tuhu investors such as Legend Capital and Qiming Venture Partners.

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China car services firm Tuhu raises $100 million from Joy Capital, Welkin