China’s DST completes $43 million Series B1 funding round

Chinese electric vehicle logistics company DST has completed nearly 300 million yuan ($43 million) of Series B1 funding.

The funds are intended to further promote the company’s fourth-quarter national urban network layout, improve product delivery speed of the existing key customers, and improve the construction and after-purchase maintenance services of the electric vehicles.

Chinese venture capital firm Bojiang Capital was the lead investor, and Japanese trading and importing or exporting company Itochu Corporation, Qiming VC and Matrix Partners China were co-investors. Zhongguancun Bank also provided credit support.

ITOCHU Corporation will help DST to reduce costs and even open up overseas markets with its network.