Chinese digital logistics platform YunQuNa secures $70m cash injection

Chinese digital logistics platform YunQuNa secures $70m cash injection

Digital logistics platform YunQuNa has secured a new round of $70m financing from Sequoia Capital China, New York-based technology hedge fund Coatue and Beijing-based venture capital Source Code Capital.

The investment is the single largest investment that a Chinese shipping technology firm has ever secured.

YunQuNa was launched in February 2015 and offers a one-stop logistics service, integrating air and ocean freight forwarding, customs clearance, trucking, warehousing, and distribution services.

Since its inception, YunQuNa has formed strategic partnerships with major ocean carriers including Cosco, Maersk, CMA CGM and Hamburg Süd.

The company said it would focus on the development of its overseas network following the completion of the new financing.

“We expect to use innovative digital tools to empower the traditional redundant and inefficient cross-border logistics service, helping Chinese enterprises better explore the overseas market by transferring the traditional network into something as convenient as a smart grid,” said Zhou Shihao, founder and CEO of YunQuNa.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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