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JIUYE SCM to Welcome C-Round Funding with C.P. Group as Lead Investor
JIUYE SCM has announced the plan of Series C round of funding as Charoen Pokphand Group (C.P. Group) from Thailand turned out a major investor for the Chinese cold chain solution provider. It is reported two sides have reached a strategic investment agreement, according to which the financing amount will be over hundred million Yuan. After receiving the Series B round of financing from SINO-OCEAN Capital in 2017, JIUYE SCM once again ushered in a capital breakthrough.
The strategic investment press conference was held in Shanghai on October 10th.
Mr. ZHANG Bing, founder and CEO of JIUYE SCM, explained that this round of financing will mainly help the Chinese local cold chain service provider to extend the global penetration, upgrade the company’s series technology moves including the platformization, globalization, and intelligence upgrading, as well as build timely and efficient transportation lines home and abroad.
“It’s our thoughtful decision to invest JIUYE SCM. We have a positive view on Chinese cold chain market.” said Mr. Roland CHONG, COO of C.P. Group Supply Chain, “Recently C.P. Group is seeking transformation from food producer to service provider and supply chain runner. As a leading cold chain platform in China, JIUYE echoed our pursuit in its delicate service, technology competency and quality standard. C.P. Group has seen the momentum and potential JIUYE has displayed in its four-year history. C.P. Group is eager to see and has confidence in how JIUYE will perform on the new stage the industry is bringing.”
This is not the first communication between two sides. Delegation members from C.P. Group expressed interest in Chinese cold chain market during their visit to the distribution center of JIUYE earlier this year. And now, JIUYE SCM and C.P. Group has upgraded their cooperation level.
“C.P. Group is a transnational conglomerate that consists of multiple businesses and services and boasts abundant international business experience in various fields. We are optimistic to see how the chemistry will come out when JIUYE join hands with C.P. Group.” Said ZHANG Bing
By October 2018, JIUYE SCM has built 26 fresh distribution centers (DCs) and 15 overseas DCs and the number of daily orders has reached 200,000. The DC of JIUYE SCM contains multiple temperature zones which include constant temperature zone, normal temperature zone, low temperature zone (freezing and refrigerating), flowers zone, wine zone, etc. Multi-temperature control of -60 °C -25 °C could be realized in the DC of JIUYE. The business of JIUYE SCM covers B2B and B2C from logistics perspective. More than 1,000 transportation lines have been explored. Home delivery services cover 86% of cities in China. At the same time, based on the business of Fresh Cloud Warehouse, Fresh Transportation and Fresh delivery, a series of value-added services, such as light food processing, fresh packaging laboratory and IT information (temperature, humidity, etc.) control, is realizing step by step
At the same time of rapid development of the business, technology has also been continuously invested and IT team plays an important role. The self-developed JIUYE Cloud Platform makes the sharing of resources and information within cross-region, cross-language and time difference possible. Meanwhile, the big data platform of JIUYE SCM could improve the intelligent degree of supply chain. In the future, it is expected to develop intelligent sorting robots and unmanned delivery vehicles. Through big data + Artificial intelligence technology, JIUYE SCM will enhance the circulation efficiency of non-standard fresh products.
“The cooperation between C.P. Group and JIUYE SCM would be an outstanding example of the business communication between Thailand and China, we are looking forward to see the progress.” said Ms. Aschariya JUNTARAVONG, Consul (Agriculture) of Royal Thai Consulate-General Shanghai.
Mr. QIN Yuming, Secretary of Cold Chain Logistics Committee, Mr. HUANG Gang, President of Head SCM (Chinese local famous new media platform of logistic chain industry), Mr. FAN Qingxin, COO of JIUYE SCM and Mr. HOU Gaoyang, CTO of JIUYE SCM also presented in the conference.
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