China-based logistics platform Yunquna secured a new round of financing led by CITIC Capital and Xianghe Capital, bringing the cumulative value of its Series D1 round to USD 150 million.
The company has raised a total of USD 300 million so far, with Sequoia Capital, Source Code Capital, and China Merchants Venture Capital as backers. Its fresh funds will go toward establishing more overseas destination ports to strengthen the company’s door-to-door logistics services.
Yunquna already has overseas branches in countries like the US, Brazil, Japan, and Thailand, and plans to expand to ten to 20 new regions in the next two years. These branches will serve as additional nodes in the company’s existing global network that provides land, air, and sea freight shipping, along with warehousing and customs services for clients including Cosco Shipping and Maersk.
Yunquna believes that digitizing the international logistics industry can mitigate some of the uncertainty in an increasingly complex business, founder and CEO Zhou Shihao said. The startup’s platform provides visualizations for cross-border supply chains, with integrated functions like price quotation, ordering, and tracking, making international shipping just as simple and traceable as domestic express deliveries. The company also intends to leverage emerging technologies like blockchain and big data analysis to enrich its offerings to include features like price and cargo space forecasts.
“Yunquna’s management team has more than 20 years of industry knowledge and a deep technical background. The company has built its own digital system covering the upstream and downstream of the international logistics industry. Its products and services have significantly improved the informatization and intelligence of the sector, improving its overall operating efficiency,” said Zhao Lei, senior managing director at CITIC Capital.
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KrASIA Connection features translated and adapted content published by 36Kr. This article was originally written by the mononymous Ben for 36Kr.