HONG KONG -- Alibaba-backed self-service car wash company Yigongli (YGL) has raised "hundreds of millions of U.S. dollars" across two tranches in a Series D round to become China's latest unicorn, a company valued at over $1 billion.
The transactions include a Series D1 round from Sigma Delta Partners Investment, which focuses on prime properties in China's Tier I cities, and a Series D2 round from Goldman Sachs Asset Management, the startup announced in a news release.
