Yimi Dida Supply Chain Holdings, a China-based logistics service provider backed by corporates Global Logistics Properties (GLP) and Prologis, secured approximately RMB1bn ($143m) in series D-plus funding yesterday, DealStreetAsia reported.
The news was revealed in a company statement that did not disclose the identity of the investors that supplied the capital.
Founded in 2015, Yimi Dida (also known as Yimidida) runs a delivery service that utilises artificial intelligence technology to make its routes more efficient. It will use the capital to upgrade a fleet of about 3,000 trucks, enhance its distribution centre network and increase headcount.
The latest funding followed an undisclosed amount provided by Bank of China Group Investment, a subsidiary of financial services firm Bank of China, and angel investment fund Ningbo Tianshi Capital in June 2019, according to DealStreetAsia.
The company closed a $266m series D round in January 2019 that was co-led by Boyu Capital and Hopu Investments and backed by warehouse provider Prologis and Source Code Capital. It had raised approximately $71m from investors including logistics group GLP in 2018, DealStreetAsia stated.
CDH Investments led Yimi Dida’s $44.3m series B round in 2017, participating together with GLP, Source Code Capital, K2VC and Tuofeng Investment.
Yimi Dida had previously received $14.5m in a December 2016 series A-plus round led by Cathay Capital Private Equity that included GLP and Source Code Capital, the two investors that had supplied $14m in series A funding for the company three months before.
Photo courtesy of Yimi Dida.
