Shared shipping box startup raises ‘hundreds of millions’ of RMB

It wants to reduce waste by reusing shipping boxes.

Photo:Shutterstock.com

Cortp.com, a Shanghai-based provider of returnable transport packaging solutions, raised “hundreds of millions” in RMB  (RMB 100 million equals USD 14 million) in a Series C funding round, led by US-China Green Fund and Lantern Venture, according to 36Kr.

Aiming for “zero waste, zero loss, and zero residual”, the company offers containers and accessories that customers can rent. This is seen as an effective means to reduce waste of disposable shipping boxes. The startup said it runs nearly 200 service stations across the country, targeting six major sectors – liquid goods, fresh fruits and vegetables, postal express mail, flowers, cold -chain logistics, and auto parts. The company claims on its website that its system can track how many boxes are still usable and how full they are.

36Kr is KrASIA’s parent company

The story was written by Uking Sun, and first appeared on ColdSky. Follow the author on twitter (@ukingsun) or WeChat (ukingsun).