U-BX Technology Raises $10 Million, Expands Insurance Services with Nasdaq Listing

U-BX Technology recently raised $10 million by selling 2 million shares at $5 per share. The company, which is based in China, offers a variety of services to insurance companies in the country, including digital promotion services, risk assessment services, and value-added bundled benefits.

One of the unique features of U-BX Technology is its proprietary algorithmic model, which allows it to generate individualized risk reports based on factors such as vehicle brand, model, travel area, and vehicle age. This information is used by insurance companies to make more informed decisions about coverage and pricing.

U-BX Technology serves over 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. Its strong customer base is a testament to the quality of its offerings and the value it provides to its clients.

The company is planning to list on the Nasdaq under the symbol UBXG with EF Hutton serving as the sole bookrunner on the deal. This successful fundraising and planned listing are strong indicators of U-BX Technology’s solid business model and potential for growth in the insurance industry.