China-based N5 Capital, V Star Capital and Shihaisong Capital have led a $60 million Series D1 round in Shansong Express, a Beijing-based logistics start-up.
Shunwei Capital, SIG, BHG Long Hills Capital, Lighthouse Venture Capital, and Hearst Ventures also participated in the round.
In June 2017, Shansong Express also raised $50 million Series C+ round led by Shunwei Capital and Beijing Hualian Group.
In July, Alibaba’s logistic arm Cainiao Network made a strategic investment of $29 million in Hangzhou-based logistic service provider Dianwoda to become its controlling shareholder.