Big Data Auto Fixer Tai Power Raises Millions of Dollars in Angel Round
Tang Shihua
(Yicai Global) March 15 — Auto repair service provider Shanghai Kexin Network Technology Co., trading as Tai Power, has raised millions of US dollars in its angel round of funding, which will go to building its Big Data marketing platforms and running its physical stores, it said yesterday, as online media outlet 36kr.com reported. Investor Feng Tao and Shanghai Wuqiong Venture Capital Co. took part in the round.
Tai Power is an automotive services chain that adopts the franchise model. It provides one-stop auto detailing, repair, maintenance and insurance services. By capitalizing on its head office’s data mining ability and using online marketing tools that generate synergies between its front and back offices, the company furnishes various means to its franchise stores to help them woo back lost clients, lure new custom and increase footfall.
The chain will form partnerships with insurance companies, new and used car e-commerce platforms and ride-hailing firms to attract business but will not entice users by offering discounts as profitability will be the company’s major long-term objective, said Chen Liang, its founder.
It will use Big Data to help its repair shops classify customer profiles, design varying service packages for different customer groups, boost traffic and sales, and become profitable, Chen said. Tai Power has signed franchise agreements with hundreds of stores in China’s southeastern Guangdong and Jiangsu provinces and will replicate its model in other major cities nationwide to add more than 2,000 franchise outlets by year’s end.
