SHANGHAI, May 20, 2019 /PRNewswire/ -- Jiuye Supply Chain Management ("Jiuye SCM" or "the Company"), China's leading cold chain service provider, has completed its Series C+ funding led by CMH Growth Fund. Proceeds from the financing are to be used for the development of the cold chain logistics platform and Freshcn -- the Company's global fresh food direct services platform.
The recently completed round represents Jiuye's sixth injection of investment in 4 years. In February 2019, the Company received strategic investment from Thailand's Chia Tai Group. Jiuye SCM's major shareholders now include Hong Kong-listed Sino-Ocean Group, Chia Tai Group, and Hong Kong-based state-owned China Merchants Capital. The new announcement makes Jiuye the largest cold chain logistics platform in China.
Founded in 2014, Jiuye SCM is a modern supply chain company that provides one-stop services for fresh produce and food for companies in the agriculture, e-commerce, and food processing industries. The Company has developed both business-to-business (B2B) and business-to-consumer (B2C) models.
Jiuye SCM's B2B shipping platform is powered by its 30 "cloud warehouses", complete with a transportation monitoring system which utilises GPS and temperature sensing technologies to achieve traceability and temperature visualization for smart cold storage and delivery. With its managed online network, a fleet of 2,000 vehicles and more than 1,500 established routes, Jiuye can distribute to thousands of retailers nationally within optimal time to a customer's door in 24 hours across on 502 routes nationwide.
The Company's B2C delivery service handles as many as 200,000 daily orders, with an annual growth rate of 50%. Jiuye industrial warehouses are equipped with multi-temperature zones, ranging from constant, variable, and low for freezing and refrigerating between -60 degrees C to 25 degrees C, allowing safe and efficient storage of products
"We will use the proceeds from the latest round of financing to expand our development in IT technology and fresh cloud warehousing to build a global fresh supply chain service platform," said Zhang Bing, CEO of Jiuye SCM. "The industry generally is experiencing low IT integration and below standard quality of fresh produce. Jiueye SCM aims to upgrade our supply chain techniques to push the overall development of the industry. Currently, we help more than 1,000 agricultural and food business customers at home and abroad to manage an inventory of nearly 15,000 SKUs," said Zhang.
Guo Dehong, general-manager of CMH Growth Fund, said: "The new round of investment is set to help Jiuye SCM to keep its leading position in the country's cold chain industry as it develops a more advanced supply chain system."
About CMH Growth Fund
CMH Growth Fund (China Merchants Mizuho Growth Fund), jointly funded by China Merchants Capital, is a wholly-owned subsidiary of state-owned China Merchants Group, and Japan's Mizuho Financial Group, the second largest financial institution in Japan. CMH Growth Fund primarily invests in companies with high-end technology, leading brand quality and promising market expansion in Greater China. China Merchants Capital has total assets of more than RMB 270 billion (about US$39 billion).
About Jiuye SCM
Jiuye Supply Chain Management, founded in 2014, is a leading one-stop cold-chain fresh service platform in China that integrates cutting-edge technology to meet growing consumer demand. The Jiuye developed Cloud Platform enables all parties in the supply chain to connect in real-time, making visual mobilization and collaboration possible.
For more information, please visit: http://www.jiuyescm.com
Media Enquiries:
Jocelyn Hsiung
T: +86-182-5258-5935
E-mail: xiongshujian@jiuyescm.com
Cory Guo
T: +86-138-1820-4022
E-mail: guojingqi@jiuyescm.com
