Chinese Logistics Firm Zto Freight Nets Over $300M In Series B Round
01/04/22, 4:26 AM
Money raised
$300 million
Round Type
series b
ZTO Freight, a less-than-truckload logistics unit owned by Chinese delivery group ZTO Express, has secured over $300 million in a Series B round of financing to cement its market position as e-commerce in China is poised to grow further in the following years.
Company Info
Additional Info
The firm said that it had previously raised a total of over $100 million across a Series A round in June 2018 and a Series A+ round in May 2020. Founded in August 2016, the firm mainly operated in the Greater China market before its global foray starting from an entry into Cambodia in March 2020. , the parent company posted revenues of over $1.1 billion in the third quarter of 2021 with an increase of 11.3% year-on-year. The fresh capital will be used to double down on the R&D of its information system, build new infrastructures, and acquire talent to help “consolidate and accelerate its development momentum,” said ZTO Freight in a statement.