United Bus Technology (UBT), a leading IT solution provider company for the motorcoach industry, raised $4 million in 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, which is very optimistic of UBT's business model and ambitious growth plan.
Founded in January 2016 with a vision of revolutionizing the motorcoach industry, UBT is committed to providing the most innovative and affordable IT solutions for bus operators. UBT strives to achieve the highest customer-satisfaction rating in the industry, providing 24/7 customer service and full warranty on hardware and software. UBT's products for bus operators help boost sales, retain customer loyalty, and enhance operational efficiency.
UBT's flagship product, NetBox™, has been deployed to nearly 50 companies in the motorcoach industry and is well received by all. It is the most affordable all-in-one platform developed for bus operators on the market. NetBox™ provides high-speed Internet with MegaWifi, vast movie streaming system with OnCoach Cinema®, and a GPS-based fleet management solution MegaTrac®. UBT also offers many other customer-tailored services such as eLog, IFTA reporting, cloud-based ticketing, and reservation, which is operated by its partner, iLIKEBUS.com, and onsite passenger check-in.