China-based logistics fleet refuelling management platform Nucarf has raised approximately $100m across its series A and A-plus rounds involving supply chain services and real development firm Xiamen C&D, DealStreetAsia reported yesterday.
Xiamen C&D participated in the series A round through its C&D Emerging Industry Investment unit, while the deal was led by Eastern Bell Capital. The latter also contributed to the series A-plus round, which was led by an undisclosed venture fund based in Europe.
Nucarf operates a platform for logistics companies to manage the refuelling of their fleet, keeping track of costs in real time and enabling unified, digital invoicing. Its product suite also includes an electronic toll collection system.
The financing has been allocated to accelerating the development of its digital infrastructure.
Eastern Bell Capital previously supplied an unspecified pre-series A sum in 2018. Shenzhen Gaoxintou and Beijing Yidian Zhiyuan Technology injected an undisclosed amount of angel funding in 2017.
Beijing Yidian Zhiyuan Technology remains Nucarf’s majority shareholder following the series A and A-plus rounds, owning more than 57%. Further details could not be ascertained.
