Coatue leads investment in logistics platform YunQuNa

Existing investors DCM, Source Code Capital, and the VC arm of China Merchants also participated. It comes three months after YunQuNa completed its first tranche of the Series B, which raising capital from Sumitomo Corporation Equity Asia.

“The global shipping industry is going through a period of rapid digital transformation. As the leader in leading the digital revolution in China’s shipping industry, YunQuNa has both strong online and offline operating capabilities, which is the reason we believe the company will bring profound impact to the industry,” said Kai Jiang, managing director at Coatue.

Founded in 2015, YunQuNa offers round-the-clock logistics services via an online platform said to have over 10,000 paying corporate customers, making it the biggest player in this space in China. By partnering with more than 100 logistics service providers globally, the platform allows cargo owners to select vendors that best meet their route and delivery deadline requirements.

Additional services include solutions for estimating time of arrival, customs clearance, transportation arrangement, cargo tracking, and account settlement.

The company mainly serves shipments between China and Central and South America, although it is looking to expand coverage to Africa and Europe. It is also looking into on-demand forecasting for logistics suppliers and booking services for cargo owners that incorporate big data and artificial intelligence.

Other activity in this space includes a $44.4 million Series C funding round for Hong Kong-based logistics technology platform Freightos led by the Singapore Stock Exchange last year.

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• Topics
• Greater China
• Industrials
• Expansion
• China
• Logistics
• Coatue Management
• Source Code Capital
• TMT