Hive Box stores $360m in series A

China Development Bank Capital has taken part in a $360m series A round for Hive Box, the operator of a self-service logistics network.

China-based logistics services provider Hive Box has received RMB2.5bn ($360m) in series A funding from investors including state-owned financial institution China Development Bank, China Money Network reported on Friday.

The bank participated through its investment arm China Development Bank Capital.

The round was led by CDH Investments, while Eastern Bell Venture Capital, Yiyao Capital and existing, unnamed shareholders also supplied funds.

Hive Box was set up in 2015 by courier services companies SF Express, STO Express, ZTO Express and Yunda Express as well as logistics facilities provider GLP. The company operates 40,000 self-service drop-off and pick-up parcel stations across 74 cities in China.

The stations are primarily located in transport hubs and reception areas of apartment buildings. Hive Box claims its stations are being used by more than 400,000 couriers.

The company will use the money to expand into additional cities across China, improve its data and information integration and develop additional features.

See more from this Government Report: People's Republic of China

Back

Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Big deal: British Business Bank launches $500m fund

    February 27, 2017

  2. Scohia Pharma to spin out of Takeda with $87m

    March 15, 2017

  3. Big deal: Airbnb takes series F booking from CIC

    March 13, 2017

  4. News round up 27 February 2017

    February 27, 2017

  5. Wills takes charge of Energy Technologies Institute

    March 07, 2017

Events

  • 23 May - 24 May, 2017

    GCV Symposium 2017 - London

    Join 400+ business leaders from the corporate venturing and wider high growth business ecosystem for the two-day 2017 GCV Symposium.

  • More Events