Alibaba joins $335m funding for car dealer tech firm SouChe
Hangzhou-based start-up SouChe has raised $335m in a funding round led by Alibaba, as part of the e-commerce giant's "new retail" strategy. Alibaba is now SouChe's biggest investor, with Warburg Pincus, Primavera Capital and CMB International also participating; however, no specific amounts have been revealed. SouChe, which provides car dealers with digital sales and marketing technology, aims to create a "seamless new automobile retail platform" by combining online and offline activities, according to CEO Yao Junhong. The latest round of funding brings total investment in SouChe to $635.4m.

The e-commerce giant led a US$335 million funding round in a start-up that is working to blend online and offline car sales in China