ZTO Freight, a less-than-truckload logistics unit owned by Chinese delivery group ZTO Express, has secured over $300 million in a Series B round of financing to cement its market position as e-commerce in China is poised to grow further in the following years.
While it did not disclose the investors of this round, ZTO Freight’s earlier investors include Sequoia Capital China, Chinese asset manager CDH Investments, and Yunfeng Capital, a private equity (PE) firm co-founded by e-commerce giant Alibaba Group’s Jack Ma.
