Chinese supply chain firm Xingyun banks $200m in series C raise

New investors Morningside Venture Capital, Pantheon Asset, Fivestar Holdings’ Xingnahe Capital, GLP subfund Hidden Hill Capital, and C&D Group’s investment arm also participated, alongside existing backers Matrix Partners China and Shandong Shuyuan Capital.

With the new capital, Xingyun plans to strengthen its supply chain capabilities and bulk up its workforce.

Since being founded in 2015, the company claims to have served over 150,000 importers, more than 2,000 overseas brands, and about 60,000 offline retail stores in China. Last year, the company said its gross merchandise volume stood at around 13.5 billion yuan (almost US$2 billion).

In its series B+ round last year, Xingyun received US$100 million in total from a partnership between Matrix Partners China and investors such as Oriental Fortune Capital, Eastern Bell Cpital, and Lan Fund.