United Bus Technology raises $4 million in funding
United Bus Technology (UBT)raised $4 million in funding in the Series A round. During the press conference on June 19, Tony Wei, UBT's Founder and CEO, announced the deal. "The funding, together with initial $6 million cash investments from our funders, will enable UBT to expand its research capabilities and technical team to further drive our products and services," Wei said. The funding is led by DYNC Atlantic Investment.
Founded in January 2016 with a vision of revolutionizing the motorcoach industry, the company says it is committed to providing innovative and affordable IT solutions for bus operators. The firm’s flagship product, NetBox, has been deployed to nearly 50 companies in the motorcoach industry. It is claimed to be the most affordable all-in-one platform developed for bus operators on the market. NetBox provides high-speed Internet with MegaWifiS, a movie streaming system with OnCoach Cinema, and a GPS-based fleet management solution, MegaTrac. The company offers other services, including eLog, IFTA reporting, cloud-based ticketing and reservation, which is operated by its partner, iLIKEBUS.com, and onsite passenger check-in.
"We rely on UBT to provide web design, IT maintenance, data storage, app development, and marketing. UBT's technology and exceptional customer service help us run more smoothly, so we can pass the savings on to our customers. iLIKEBUS owes part of its success to UBT," the General Manager, Tingting Guo, for iLIKEBUS, commented on UBT's products and services. iLIKEBUS.com provides bus ticketing service for travelers who want a to book inter-city bus tickets across the U.S. at low prices.