Alibaba-backed Chinese car wash firm YGL hits unicorn valuation after Series D round

Alibaba-backed Chinese car wash firm YGL hits unicorn valuation after Series D round

An unmanned car-wash facility provided by Chinese AI-enabled intelligent car-wash service Yigongli

Alibaba-backed self-service car wash firm Yigongli (YGL), which was developed by Shanghai HELIOS Network Technology, has achieved a unicorn valuation of over $1 billion after raising “hundreds of millions of US dollars” across two tranches in its Series D round.