Chinese logistics startup Cortp.com snags Series C funding

Chinese logistics startup Cortp.com has banked hundreds of millions of Chinese yuan in a Series C funding round led by US-China Green Fund and Lantern Venture, according to an announcement.

Offering recyclable packaging solutions for its customers through an IoT-based logistics sharing platform, Cortp.com said it will use the funding to further develop the cloud-based platform, which will enhance the smart packaging embedded in the entire supply chain.

The company claims it operates nearly 200 service stations, providing returnable alternatives to disposal shipping boxes for six industries of liquid goods, fresh fruits and vegetables, postal express, flower delivery, cold chain logistics, and auto parts.

It added that the technology also allowed customers to track their cargo transportation in real-time.

US-China Green Fund CEO Bo Bai said the maturity of 5G, IoT and AI has created huge market space for industrial upgrading and green investment. Meanwhile, more than 80 per cent of Chinese manufacturing businesses still use traditional packaging products, which places huge pressure on environment protection.

Founded in 2016, the fund focuses on investments in green energy and consumption in China and the US. Its debut fund is a 3.7-billion-yuan ($550-million) vehicle, and the firm is already raising a larger second yuan fund, Techcrunch reported.

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.