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Investment
China’s logistic startup Duckbill scores USD 50 mln from Temasek, others
CKN
2021/03/25 08:09:23
2,984

Mar 25, 2021 (China Knowledge) - Shanghai-based startup Duckbill has raised USD 50 mln in a new financing round led by Temasek and joined by Pavilion Capital, as well as existing investors such as Future Capital and Shunwei Capital.

Duckbill was founded in 2017, which operates an app for truck drivers to take transportation orders – similar to how ride-hailing apps work. It helps companies to move their containers on land, separating the goods into smaller orders for drivers to fulfill.

Duckbill, which started at the Shanghai port, expanded to Ningbo in 2018, and later to Taicang, as well as Shenzhen and Qingdao, transporting a total of about 700,000 containers last year alone. The firm also offers cargo loading and unloading services and says it now has about 6,000 corporate clients, up from 5,000 in September last year when it bagged USD 30 mln in a pre-Series B round.

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