Baidu Capital was among the investors in a $70.8m round that will support the growth of the logistics services supplier's warehouse portfolio.

China-based logistics services provider FineEx has completed a RMB500m ($70.8m) series D round featuring Baidu Capital, the growth equity arm of internet group Baidu, 36Kr reported on Friday.

The corporate was joined by Russia-China Investment Fund, the private equity venture jointly formed by the Chinese and Russian governments. Investment bank China Renaissance advised FineEx on the round.

FineEx provides logistics services such as warehousing, product delivery and return handling for e-commerce sellers. Its customers include hair product supplier Schwarzkopf and…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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