Logistics company GLP has taken part in a RMB100m ($14m) series A+ round for China-based online logistics platform Yimidida, China Money Network reported today.
The round was led by investment firm Cathay Capital Private Equity, with participation from Source Code Capital.
Incorporated in 2015, Yimidida provides crowd-sourced delivery services in small counties and villages across China. The company claims to operate 1600 locations, covering approximately 70% of rural areas.
GLP previously invested an undisclosed amount in series A capital alongside Source Code Capital three months ago.
Yang Xingyun, founder of Yimidida, said: “We are in a market potentially worth trillions of renminbi. We hope to become an integrated logistics platform in five years.”