China-based supply chain services provider Zhanghetianxia, has received RMB 100m ($16m) in series A funding from Alibaba-backed venture capital fund Riverhill Fund, China Money Network reported today, citing an article in QQ Tech.
Zhanghetianxia is the operator of an online platform through which local retailers can access supply chain services. It claims to link some 30,000 suppliers with more than 200,000 retailers.
The capital will be invested in research and development, infrastructure expansion and the further advancement of the e-commerce channels Zhanghetianxia provides to local stores.
E-commerce conglomerate Alibaba is the largest limited partner in Riverhill, which was formed by Alibaba co-founder Simon Xie.