Dekun, a China-based logistics services provider backed by electrical appliance manufacturer Haier, has closed a RMB500m ($70m) funding round, DealStreetAsia reported on Wednesday.
The funding was secured in the middle of this month and supplied by investors including BOCG Investment, a subsidiary of financial services group Bank of China, while Genesis Capital and Chessboard Investment Management were advisers on the transaction.
Founded in 2016, Dekun provides cargo transportation and express delivery in addition to warehouse and storage services, shipping insurance and smart logistics technology to coordinate deliveries. It maintains more than 1,000 service centres across China.
The company plans to channel the funding into growing its shipping network, which relies on booking space in individual trucks in its network, in addition to strengthening its artificial intelligence, cloud computing and internet-of-things technology capabilities.
The latest round comes after Dekun received a nine-figure renminbi amount of series A funding from Haier’s corporate venture capital unit, Haier Capital, in April 2018. It has reportedly earmarked approximately $14m of the proceeds in this round for strategic investments in other companies.
