U-BX Technology Raises $10 Million, Plans to List on Nasdaq and Expand in Insurance Industry

U-BX Technology recently raised $10 million by offering 2 million shares at $5 per share as planned. The company serves more than 300 city-level property and auto insurance carriers nationwide, as well as around 200,000 insurance brokers who use its products and services for their daily business operations.

U-BX Technology’s proprietary algorithmic model can generate individualized risk reports based on factors such as vehicle brand, model, travel area, and vehicle age. Through this service, the company helps insurance companies in China to better understand their customers’ needs and provide them with customized solutions.

As part of its expansion plans, U-BX Technology is planning to list on the Nasdaq under the symbol UBXG with EF Hutton as the sole bookrunner on the deal. This successful fundraising and planned listing are indicative of the company’s solid business model and potential for growth in the insurance industry.