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Investment, Venture Capital

Yunfeng, Sequoia-Backed Yunmanman Raises $160M In New Venture Funding

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Yunmanman, a freight transportation and logistics mobile app operator in China, has reportedly raised US$160 million in new venture funding from two unnamed international investment institutions and existing investors, according to Chinese media reports.

The new funding includes a US$50 million series C2 round completed five months ago, and a US$110 million series D round that was just closed.

The company did not immediately respond to an inquiry to confirm the news.

Founded in 2013, Jiangsu province-based Yunmanman is a tool for vehicle and cargo management for both cargo owners and truck drivers.

It previously raised venture funding from Lightspeed Venture Partners, Sequoia Capital, Yunfeng Capital, including a series C round led by Yunfeng last August.

Yunmanman, which operates via Ymm56.com and a number of mobile apps, claims to have 800,000 registered cargo carriers and 3.5 million truck drivers.

The company says it will use the latest proceeds on big data and artificial intelligence to improve matching efficiency between cargo and truck drivers, as well as to better monitor road conditions.





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