SIG Asia, YI Capital lead $50m round in China’s Shansong Express

SIG Asia Investment, and YI Capital have led a $50 million series C funding round in Shansong Express, an inner-city logistics startup in Beijing.

YI Capital is a Beijing-based technology-focused venture capital firm. Prometheus Capital also participated in the round, the China Money Network reported.

Shansong Express offers short-distance, inner-city deliveries, and guarantees a one-hour or less delivery time within five-kilometer range. It now covers 31 cities in China with an average of around 100,000 daily deliveries, and has over 12 million users and 184,000 couriers.

The startup plans to use the latest capital on research and development to improve products as well as expand its market share.

Founded in 2014, Shansong secured an undisclosed series A round funding from CDH Investments, series B round led by JD Capital, and series B+ round from Tiantu Capital.

Also Read:

SIG Asia participates in $57m Series D round in Chinese online travel firm Qyer.com

Logistics startup Lalamove bags $30m Series B for expansion to more than 100 cities

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.