<article>Chinese transport management platform oTMS has raised a Series C round from China Merchants Venture Capital.</article>

Chinese transport management platform oTMS has raised a Series C round from China Merchants Venture Capital.
According to an official statement, oTMS plans to use the funds to further develop its technology and service platforms to increase service standards and reduce costs for retailers and manufacturers in China.
No details were disclosed on the size of the round.
Founded in 2013, oTMS is a SaaS solution which connects manufacturers, carriers, drivers and consignees in a shared cloud platform. The platform integrates management and transactions, allowing customers to conduct procurement, payment and performance analysis.
According oTMS, the company currently has more than 3,000 trucking companies, over 200,000 drivers on its network. In 2018, oTMS processed over 100 million shipments worth over $1.45 billion (10 million yuan) in freight cost.
Mirek Dabrowski, CEO and co-founder of oTMS said: &#8220;This investment as well as growing demand for our solutions validates our approach to use digitisation to drive meaningful and sustainable services and cost improvements. Shippers realise that the current status quo of reliance on exclusive, fixed carriers with a lack of cost and service transparency and cannot be sustained. While there are no easy shortcuts, this transition can nevertheless be accelerated by outsourcing transport management services to oTMS with technology, carriers, service and payment all pre-packaged to lock-in savings immediately&#8221;.
China Merchants Venture Capital (CMVC) is the investment arm of China Merchants Group. CMVC currently manages $730 million (5 billion yuan) of investments, of which $290 million (2 billion yuan) is for investments in venture capital firms, while $440 million (3 billion yuan) is in direct investments in early to growth stage startups. CMVC&#8217;s investment areas include finance, real estate, logistics, healthcare, IoT and artificial intelligence.

Chinese transport management platform oTMS has raised a Series C round from China Merchants Venture Capital.

Chinese transport management platform oTMS raises Series C round from CMVC

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Chinese transport management platform oTMS raises Series C round from CMVC

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief