Legend Capital has led a RMB250 million (US$36 million) series C round in Beijing-based truck logistics company Fuyoukache, according to Chinese media reports.
Zhen Fund, Jiangxi-based AVIC Trust, a trust company established by Aviation Industry Corporation of China (AVIC), as well as existing investors Eastern Bell Venture Capital and Singapore-based Global Logistic Properties Ltd. (GLP) also participated in the round.
The company also received RMB300 million (US$43 million) debt financing from AVIC Trust and GLP, according to the reports.
Founded in 2014, Fuyoukache provides long distance truck logistics services to enterprises, individuals and large third-party logistics companies, connecting truck drivers with those in need of logistic services via its online platform.
It operates in 31 provinces in China, and has partnered with over 30 logistics companies including Deppon Logistics Co., Ltd, S.F. Express, and ZJS Express.
The start-up previously received a total of RMB65 million (US$9 million) series A round from investors including Wu Yongming, a co-founder of Alibaba Group Holding Ltd in 2015, and later it completed a US$15 million series B round led by China's Eastern Bell Venture Capital, with participation from GLP in April Last year.
In November 2016, it received a RMB100 million (US$14 million) financial credit from GLP.
Foyoukache's rival, Chinese truck logistics company Huochebang, raised a US$115 million series B-1 funding round from International Finance Corporation and All-Stars Investment Ltd last December.