China-based cross-border online marketplace Giga Cloud Logistics has closed a RMB260m ($39.5m) funding round that included e-commerce group JD.com, DealStreetAsia reported yesterday.
JD.com, which was joined in the round by investment holding company Oriza Holdings, invested as part of a strategic alliance that will involve it setting up an international digital trading platform with Giga Cloud.
Launched as a subsidiary of cross-border logistics provider Oriental Standard, Giga Cloud has built a digital commerce platform that connects consumer goods wholesalers with international retail partners.
The company also offers logistics and last-mile delivery services for cross-border sellers, and specialises in large, bulky items.
The round comes in the wake of partnership agreements signed with trade exhibition China Internal Furniture Fair in June this year and home improvement retailer Red Star Macalline the following month.
Macalline and venture capital firm DCM Ventures are also among Giga Cloud’s earlier investors, according to DealStreetAsia.
Lei Wu, Giga Cloud’s chief executive, said in a statement cited by DealStreetAsia, “Besides Europe and US, we will foray into other international markets, as well as advance our capacities in technology innovation, logistics storage and talent recruitment.”
