One-Stop International Logistics Online Service Platform YunQuNa Receives New Financing
The one-stop international logistics online service platform YunQuNa announced that it has landed a new round of financing led by CITIC Capital, followed by Xianghe Capital and its shareholders. The overall financing in its D1 round adds up to 150 million US dollars, setting a new record for a single round of financing for China’s up-and-coming economic businesses in the field of international logistics digital services. Huaxing Capital is the exclusive financial consultant.
According to the company’s plan, all of the D1 round of financing will be used for YunQuNa to deploy an in-depth layout of overseas destination ports, and to further strengthen its door-to-door product service experience.
YunQuNa has already completed several rounds of financing, securing a total of over 300 million US dollars. Investors include Coatue, Sequoia China, DCM, Source Capital, China Merchants Venture Capital, CITIC Capital, Xianghe Capital, Sumitomo Commercial Asia Capital and other renowned investment institutions at home and abroad.
Zhao Lei, senior managing director of CITIC Capital, told Chinese media 36 Kr, “CITIC Capital will tap into its experience in cross-border service, logistics industry network and international mergers and acquisitions to provide assistance to YunQuNa. Meanwhile, CITIC Capital’s investment in the firm will help boost CITIC Capital’s network resources in offering all-around service for businesses going global as well as create a synergy for its invested enterprises with cross-border business.”
YunQuNa was launched in February 2015. At present, it has established overseas branches in the United States, Mexico, Brazil, Japan, Vietnam, Thailand, Singapore, Malaysia and other countries, and will establish more overseas branches in 10-20 regions around in the next 1-2 years.
“Born to make shipping simpler” is the mission of YunQuNa. By combining digital technologies such as e-commerce, big data and artificial intelligence with traditional international logistics, the company can provide businesses with simpler and more efficient international logistics transportation services, making traditional complex international logistics as simple as sending an express delivery.
Zhou Shihao, founder and CEO of YunQuNa, believes that “the international logistics industry is embracing its VUCA (volatile, uncertain, complex, ambiguous) Era, and digital technology is one of the most effective tools to tackle these uncertaintyies”
With the application of new digital technologies, YunQuNa will further apply blockchain technology, big data and other newer technologies in the field of international logistics. The company aims to create new functions such as price forecasting and shipping space forecasting, while helping companies execute better cross-border logistics decision-making and management.
SEE ALSO: China VC Weekly: Logistics, Robots and Surgical Instruments
YunQuNa is not only focused on application of technologies, but the construction of an entire ecosystem, which the company plans to develop over the next few years. “Since we want to build an ecology, we should export our technical capabilities and empowerment to the outside world at some point,” Zhou pointed out.