China shipping tech platform Yunquna raises $100m

The company has not disclosed the identities of the investors. Its $70 million Series C in 2019 was led by Sequoia Capital China and Coatue Management. Previous backers across multiple previous rounds include DCM, Source Code Capital, China Merchants Venture, and the venture capital arm of Sumitomo Corporation.

Founded in 2015, Yunquna connects ports, shipping companies, warehousing operators, and freight forwarders through big data-enabled systems that allow visualization of the entire transportation process. Cargo owners can select the providers that best meet their needs, track shipments, and receive assistance in areas such as customs clearance and financing.

The company originally served routes between China and Central and South America. Since then, it has established a "China-global" cross-border transportation network, covering more than 95% of transportation routes related to China. It has overseas logistics nodes across Mexico, Brazil, Japan, the US, Vietnam, Thailand, and Singapore.

Yunquna claims to have served 20,000 customers to date and it expects to cross the 700,000 20-foot equivalent unit (TEU) threshold for shipments this year.

The new funding will go towards strengthening its overseas networks and the application of digital technologies. There are plans to add dozens of overseas logistics nodes - turning the "China-global" network into a "global-global" network - while adding technology-enabled functionality such as price and space forecasts.

China Renaissance served as the exclusive financial advisor for the first tranche of the Series D.

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• Topics
• Greater China
• Expansion
• Technology
• China
• Logistics
• China Renaissance
• TMT
• Sequoia Capital
• Coatue Management