Yuanware Planet

About Yuanware Planet

Referred to as Youdi, Yuanware Planet operates as a market leader in China for end-of-life vehicle recycling. Founded in 2018 by Mr. Yang Li and Mr. Jingxin Rong, the company is headquartered in the Dongcheng District, China. Through its platform, youdi.net, it connects scrapyards, vehicle manufacturers, and repair shops to facilitate the refurbishment and reuse of auto parts for both gasoline-powered and electric vehicles.

The company's business model focuses on improving the efficiency of the auto parts recycling chain, reducing waste, and lowering sourcing costs for its users. It operates its own recycling plants in China and Malaysia, where it purchases, dismantles, and distributes used vehicle parts and recycled materials on a global scale.

Yuanware Planet has secured significant funding, raising a total of $15.3 million over four rounds. Its latest funding round was a Series B in September 2023, which raised $20 million from investors including Joy Capital, NIO Capital, and the Greater Bay Area Fund. Other notable investors include Matrix Partners China, Sequoia, and the Alibaba Entrepreneurs Fund.