Huochebang, the China-based developer of a logistics app for truck drivers, has secured an undisclosed amount of series A capital led by internet company Tencent, China Money Network reported today.
Hedge fund Hillhouse Capital and venture capital firm DCM also contributed to the funding, which Huochebang raised as a series A extension, and which is reportedly sized at several tens of millions RMB (RMB 10m = $1.6m).
Huochebang has not disclosed details about the initial tranche of its series A round, which was reportedly led by Zhongding Capital in May 2015. It wiill use the funding to expand its network and improve services to truck drivers and companies.