The Sumitomo-backed online logistics marketplace has reached another close of its series D1 round, the second tranche being led by Citic Capital.

YunQuNa, a China-based shipping platform operator backed by conglomerate Sumitomo, increased its series D1 round to $150m on Tuesday with a second tranche led by private equity firm Citic Capital.

The tranche included venture capital fund Xiang He Capital and unnamed returning investors, and it followed a $100m first close secured at a valuation exceeding $1bn and revealed last month. It also featured undisclosed investors that likely included VC firm Source Code Capital.

Founded in 2014, YunQuNa provides a…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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