Chinese alternative asset management firm CDH Investments has led a RMB300 million (US$44 million) series B round in Yimidida, a Shanghai-based logistics services platform focused on small cities and counties in China.
Global Logistic Properties Ltd., Source Code Capital, K2VC, and Tuofeng Investment also participated in the round, according to a company announcement.
Founded in 2015, Yimidida specializes in last-mile delivery services for small and light parcels, less-than-truck-load services for mid-size parcels, and full-truck-load services for large parcels. Its network of 3,000 locations covers so-called third-tier and fourth-tier towns and villages in China.
Yimidida has also developed a cloud-based logistics services platform that utilizes big data and mobile Internet to match demand and supply, improving dispatch and truck de...
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