GLP and China International Marine Containers-backed Yidaichu has allocated the $17.4m it raised to hiring staff, further developing its technology and improving its core offering.
Yidaichu, a China-based e-commerce warehouse operator backed by logistics provider GLP, has raised RMB120m ($17.4m) in series B-plus funding from investors including fund manager Rotating Boulder Fund.
Founded in 2015, Yidaichu operates a network of more than 30 warehouses across China, providing customised storage services for online merchants. It claims to have served more than 2,000 clients to date.
The funding will allow the company to further improve its technology, drive recruitment and support the continued development of its products and services.
GLP led Yidaichu’s $29m series B round in March 2018, after transportation equipment provider China International Marine Containers and Shenzhen Gemboom Investment had supplied $7.2m in series A funding the previous year.
Shenzhen Capital and other, undisclosed investors had already provided $3.6m in pre-series A funding for the company in 2016.
