China-based logistics services provider YH Global has secured RMB1.2bn ($182m) in a series A round that included interior design and construction firm Shenzhen Grandland Group, China Money Network reported today.
The round was co-led by private equity firms Yonghua Capital and Co-Energy Finance, with additional participation from Stone Capital and Tangrong Capital. YH Global is now valued at $1bn, according to local media reports.
Founded in 1997, YH Global operates logistics centres in more than 50 cities across China. It provides supply chain management, cross-border e-commerce services, and third-party and air freight logistics services.
The company’s clients include e-commerce firms such as JD.com and Alibaba, consumer electronics producer Samsung and telecommunications equipment manufacturer Huawei. It claims it can handle more than 10 million transactions per day.
The equity funding will enable YH Global to expand its network across Southeast Asia, into Russia and into the Middle East. YH Global has not released information about any earlier funding.