China-based IT services provider OlymTech has raised $20m in a series A round backed by IDG Capital Partners, a venture capital affiliate of media company International Data Group, China Money Network reported yesterday.
The round also featured venture capital firms Matrix Partners and Yunqi Partners.
Founded in 2002, OlymTech provides IT services to the international logistics and freight sector. The company’s cloud-based platform, CargoGM, offers a range of services ranging from order processing and accounting to tracking and business intelligence.
The company has operations in several logistics hubs across China, including Shanghai, Shenzhen, Guangzhou, Ningbo, Qingdao, Tianjin and Xiamen.