China: CDH Investments leads $360m funding round in Hive Box Technology

Photo: REUTERS/JASON LEE

Alternative asset management firm CDH Investments has led a $360 million (RMB2.5 billion) series A funding round in Hive Box, which operates a network of self-service package drop-off and pick-up stations across China, as per a China Money Network report.

Besides existing investors, other investors who took part in the latest funding round include China Development Bank Capital, Eastern Bell Venture Capital, and Yiyao Capital.

The funds raised will be used by Hive Box to expand operations across China, improve information and data integration platforms, and to overall work towards enhancing user satisfaction.

Shenzhen Hive Box Technology Co., Ltd was formed in June 2015 through a joint investment by Chinese courier companies SF Express Co. Ltd, STO Express, ZTO Express and Yunda Express, as well as Global Logistic Properties (GLP), with an aim to provide the best express delivery experience by developing a 24-hour self-service open platform for express delivery companies and e-commerce logistics.

Hive Box currently operates 40,000 smart package self-service units with three million package boxes in 74 cities in China, improving convenience and efficiency in the last-mile delivery process, the report added.

Over 400,000 courier delivery personnel from various delivery and e-commerce companies use Hive Box’s facilities, which are mostly conveniently located in apartment building lobbies and transportation hubs.

Established in 2002, CDH Investments claims to have over US$15 billion in assets under management. The Hong Kong-headquartered firm has invested in more than 150 companies so far including China’s WH Group, Belle International, Mengniu Dairy, Qihoo 360, and Luye Pharma.

Also Read: KKR, CDH to exit Modern Dairy as China Mengniu offers buy out for $826k

China: AI startup SenseTime raises $120m led by CDH Investments

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.