Yungongchang chows down on $14.4m

Aug 11, 2020 • Callum Cyrus

China Academy of Sciences-backed Yungongchang sells industrial equipment to clients including Alibaba and Airbnb.

Yungongchang, a China-based digital trade portal backed by China Academy of Sciences, has secured RMB100m ($14.4m) in series B funding from boutique investment firm Echo Capital.
Founded in 2015, Yungongchang runs an e-commerce platform that connects automotive, mechanical, medical and consumer electronics companies with component manufacturers.
The company’s clients include e-commerce firm Alibaba, ride-hailing service Didi Chuxing, online travel agency Ctrip and short-term accommodation rental platform Airbnb.
The series B capital has been allocated to research and…

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