Tuhu, a China-based provider of after-sales products and services for car owners backed by conglomerate Legend Holdings, has raised $50m in series C funding, China Money Network reported today, citing Chinese media reports.
The round was led by investment management firm Hillhouse Capital and also featured investment firm Qiming Venture Partners and other, undisclosed investors.
Founded in 2011, Tuhu offers a service that delivers after-sales products and installation services to automotive owners through a network of partner garages.
The company claims to have registered more than four million users to its online platform and mobile app, and to have 200,000 daily active users.
Legend Capital, Legend’s corporate venturing unit, joined Qiming, Far East Horizon and Welkin Capital Management for the $100m first tranche of Tuhu’s series C round in August this year.
Tuhu had previously raised about $30m from Legend Capital and Qiming across two rounds, in 2013 and 2014.