ZJS Express, a China-based logistics services provider backed by several corporate investors, has collected nearly RMB1bn ($153m) in its series B round, DealStreetAsia reported on Wednesday.
The round included asset management firm Gaolin Capital, alternative asset manager Sino-Ocean Capital and a vehicle dubbed Ningbo Hanrun Investment.
Founded in 1994, ZJS provides logistics and delivery services including sorting, packaging, storage and distribution.
The funding will be used to strengthen the company’s supply chain network and develop new integrated services for its business customers. It aims to achieve a 100% growth in its business over the next three to five years.
Gaolin Capital joined pharmaceutical firm Tasly Holding Group, logistics property manager GLP and Haichuang Funds of Funds, an investment vehicle affiliated with appliance manufacturer Haier’s Financial Holdings subsidiary, in ZJS’s $179m series A round in 2018.
ZJS had previously raised approximately $80.6m in a 2014 pre-series A round featuring diversified conglomerate Fosun and Haitong Kaiyuan, a subsidiary of brokerage services firm Hatong Securities, as well as China Merchants Securities, Hongtai Capital and Zhong Xinjian Merchants Equity Investment Fund.
Gaolin Capital is the company’s largest shareholder, with a 33% stake according to DealStreetAsia, followed by Tasly Holding Group’s Shanghai Hetai Investment vehicle (25%) and furniture retailer Easyhome (12.5%), while GLP holds 2.5% of its shares.