China-based supply chain services firm DS365 Technology has raised RMB700m ($102m) in series B funding from investors including financial services conglomerate China UCF, China Money Network reported today.
The round was led by Everbright ReinFore, the private equity arm of asset management firm Everbright Financial Holding Asset Management.
Founded in 2014, DS365 offers supply chain management technology that enable fast-moving consumer goods, transaction platforms and logistics services to convenience and community stores.
The company claims to be serving more than 300,000 shops across 17 cities in China, such as Beijing, Shenzhen and Guangzhou.
DS365 previously closed a $25m series A round in February 2016, according to China Money Network, though the identities of the four investors in that round have not been revealed.
Xu Fang, managing partner at Everbright ReinForce, said: “DS365 is the best B2B platform we see in the sector. We invested in the company because we are optimistic about its business model, team and execution capabilities.”