June 22, 2017

Truck Alliance raises $156m



Semi trucks of different brands of classical and modern styles and different colors lined up in a straight line in a row
Copyright: vitpho / 123RF Stock Photo

China’s Uber-type service for trucks Guiyang Huochebang Technology Co Ltd, also known as the Truck Alliance, said on Tuesday that it had raised $156 million in series B-2 funding, led by Baidu Capital, the investment arm of Baidu Inc, the country’s largest search engine.

Chinese investment firm All-Stars Investment Ltd, which led the $115 million series B-1 round of funding in December, and existing investors, also participated in the latest fundraising. Moreover, a B-3 round of financing is expected to be completed soon.

So far, Guizhou-based Huochebang has raised more than $270 million in series B funding, with its valuation reaching more than $1 billion, setting a new record in online logistics platform investment.

The deal marks the second investment that Baidu Capital has made  […]

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