China’s logistics service platform Yimidida raises $143m in Series D+ round

Shanghai-based logistics solutions provider Yimidida Supply Chain Holdings Ltd has garnered approximately 1 billion yuan ($143 million) in its Series D+ round from a set of undisclosed investors, per a company statement on Tuesday. 

In January 2019, it had raised $266 million in its Series D round led by Chinese private equity firm Boyu Capital. Chinese private equity firm Hopu Investment and Source Code Capital also joined the round.

Later in June, it had secured undisclosed funding from BOCGI and Ningbo Tianshi Capital.

Global logistics major GLP is a long-time backer in Yimidida. In 2016, GLP had participated in its nearly 200 million yuan ($29 million) of financing in Series A and A+ rounds in 2016. Subsequently, GLP had also joined its 300 million yuan ($43 million) Series B round in 2017. A year later, GLP co-invested in the company’s  500 million yuan ($71 million) Series C round funding.

Yimidida, a trucking logistics group, owns the yimidida.com and UL Express brands. It uses artificial intelligence and internet of things to achieve digital transformation in logistics operation management. Established in 2015, Yimidida has expanded to 33 provinces, with more than 13,000 networks and 3,000 trucks. 

The fresh proceeds will be deployed to finance investments in truck upgrades, distribution centres, and beefing up the team.

According to its recent media reports, the company is engaged in providing free logistics support, ferrying medical supplies and equipment, to central China’s Wuhan city, the epicentre of the coronavirus outbreak.

Besides Yimidida, other top logistics service players operating in the country include SF Express, Deppon Express, ANE, Dekun, Transfar, and Sanzhi Logistics.

Singapore Reporter/s

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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. 
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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.