AlphaCar has successfully entered into an investment agreement with Suzhou Guanghua Industrial (Group) Co., Ltd. (“Suzhou Guanghua”). After the investment, Suzhou Guanghua obtained 131,578,947 ACAR Token (“ACAR”), the blockchain digital assets issued by the AlphaCar Platform. This part of the ACAR will be locked and not flowed in the market.
Suzhou Guanghua is a well-known comprehensive strategic investment group in Jiangsu Province, China. It has successfully invested in education, finance, energy, medicine, infrastructure, hotels, culture and entertainment. Its early investment project, Wuxi AppTec, was listed on the New York Stock Exchange. This investment is also a bold exploration and attempt by Suzhou Guanghua in the blockchain and ridesharing fields.
The financing proceeds will be mainly used for market development and operation of the ridesharing business, as well as product development and risk control. We believe that Suzhou Guanghua’s rich social resources and operational experience will inject full vitality into AlphaCar.
Feb 3, 2019