China-based supply chain services provider Xingyun raised $200m in a series C round co-led by insurer Taikang Insurance, publisher Shanghai United Media’s Zhongyuan Capital fund and investment firm Highlight Capital, according to DealStreetAsia.
Hidden Hill Capital, a fund for logistics company GLP, and C&D Emerging Industry Investment, the corporate venturing arm of real estate and logistics firm C&D Group, also took part in the round.
Morningside Venture Capital, Pantheon Asset, Matrix Partners China, Shandong Shuyuan Capital and Fivestar Holdings’ Xingnahe Capital filled out the round.
Xingyun provides a broad suite of supply chain services to importers, ranging from consultancy and financial services to logistics and trading. It also runs a cross-border online marketplace called XY-Storehouse.
In addition to China, it maintains operations in Australia, Germany and Japan. The funding has been allocated to bolstering supply chain capacity and to recruitment.
Xingyun previously received $100m in series B-plus funding in August 2019 from Matrix Partners China, Oriental Fortune Capital, Eastern Bell Capital and Lan Fund.
Matrix, Eastern Bell, GSR United and undisclosed backers had supplied tens of millions in a series B round in late 2018. Xingyun’s earlier backers include Oriza FOFs, Hongtai Aplus, Changtai Investment, GX Capital and Fortune Valley Capital, DealStreetAsia said.
