Tencent Leads RMB 9-digit A+ Funding in O2O Logistics Platform 56QQ.com
Tencent Tech, 8/24/15
Guiyang-based Huochebang Technology, operator of online and mobile O2O logistics platform 56QQ.com (also 56QQ.cn), recently announced that it has completed RMB 9-digit Series A+ funding, led by Chinese Internet and mobile services firm Tencent (0700.HK), with participation from Eastern Bell Venture Capital, Beijing-based private equity fund Hillhouse Capital Management, and Doll Capital Management (DCM). Huochebang will use the funds to develop freight truck-related services and to establish a freight trucking service system.
Shippers of goods and vehicle drivers can use the 56QQ.com platform to publish shipping requirements and complete transactions. Other services provided by Huochebang include vehicle location-tracking, freight insurance, maintenance and emergency repair, and truck components sales.
Huochebang founder Dai Wenjian said that more than 85% of large freight trucking businesses in China are run by self-employed operators, and that using the Internet to match empty trucks with sources of goods will reduce the number of cargo-less vehicles and improve driver efficiency.
Huochegang, established in 2011, completed RMB 9-digit Series A financing in May 2015 led by Eastern Bell Venture Capital, with Tencent and DCM also investing.
Editor's Note: Chengdu-based Yunli Technology, the developer listed on the 56QQ app, is Huochebang Technology's software development subsidiary.
Keywords: Huochebang Yunli 56QQ wireless M&A Internet funding Tencent Doll Capital Management Series A 0700.HK logistics Hillhouse Capital O2O Eastern Bell Venture Capital VC wireless
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