Yimi Dida Closes Nearly $100 Million Series C Round, Existing Investor Source Code Capital Continues to Increase Stake

源码资本·April 23, 2018·4·4

"Crowdfunding and crowdsourced logistics"

Shenzhen, April 23 — Yimi Dida has officially announced the completion of its nearly $100 million Series C funding round. The round was led by Sino-Ocean Capital and Hopu Investment Management, with continued follow-on investments from Prologis and Source Code Capital.

Yimi Dida was formally established as a brand in October 2015. At its launch, the network's daily freight volume was approximately 7,000 tons. To date, daily freight volume has reached 30,700 tons, representing growth of 339%. By year-end, the company expects daily freight volume to exceed 40,000 tons. In less than three years, Yimi Dida's business growth has far outpaced the industry average, placing its volume firmly in the top tier.

Public records show that from September 2016 through December 2017, Yimi Dida completed four financing rounds — Series A, A+, B, and B+ — in just 15 months. Investors included Prologis, Source Code Capital, K2VC, Cathay Capital, CDH Investments, and China Development Bank International. Roughly four months later, Sino-Ocean Capital and Hopu Investment Management led the company's fifth funding round, with Prologis and Source Code Capital continuing their support, bringing in nearly $100 million.

Several prominent institutional investors have placed substantial bets. This reflects, on one hand, the rapid development of China's logistics industry and the powerful market energy attracting investors; on the other, it signals strong capital recognition of Yimi Dida's business model, IT infrastructure, team, and corporate "partner culture."

Within China's multi-trillion-yuan road logistics market, Yimi Dida has pioneered innovative operating models including "network crowdfunding and capacity crowdsourcing." By combining self-operated hubs in core regions with regional franchise networks, the company has rapidly built nationwide coverage, providing customers with high-quality, reliable, and cost-effective integrated logistics services.

The following figures suggest Yimi Dida is on the right track: To date, the company has built a logistics network covering all districts and counties nationwide, with 100% coverage of tier-1 and tier-2 cities, 86% coverage of county-level regions, and 70% coverage of townships. It has rapidly completed network coverage across 31 provinces and can reach Hong Kong and Taiwan, operating over 7,500 outlets and 167 sorting and distribution centers.

Lucky Yang, founder and CEO of Yimi Dida, stated that if the Series A through B+ rounds laid the company's foundation, the Series C round catalyzes Yimi Dida's rapid expansion and core business growth while solidifying its strategic positioning. The funding represents more than capital — it reflects investors' strong endorsement of the company's operations and development, along with resources more valuable than money. Yang noted that Yimi Dida has maintained ample capital reserves and, in a sense, does not lack for funds.

Lucky Yang emphasized that China's logistics industry has fully entered the era of intelligence, deep integration, and capital-driven growth — self-funded development can no longer meet Yimi Dida's strategic needs or market trends. Fundraising is not the end goal; this round serves to better align platform partners around shared values and advance the company's vision of becoming "the customer's first choice for an integrated service platform built on logistics."

Lucky Yang said that over two years of development have proven the vitality of Yimi Dida's network crowdfunding and capacity crowdsourcing models. To realize its vision of becoming the preferred customer choice for an integrated logistics-based service platform, Yimi Dida has seized the "logistics + internet" opportunity, evolving and advancing rapidly through innovation. This round's proceeds will advance nationwide network construction, build efficient operations, and establish a symbiotic, win-win ecosystem; support strategic development through diversified supply chain financial services; and upgrade the company's information management systems. The company will also recruit senior management talent and strengthen frontline staffing, refine its products, and focus on enhancing user experience to propel Yimi Dida toward becoming a hundred-billion-yuan integrated logistics service platform.

Lyu Yuemei, Vice President of Investment at Source Code Capital, noted that the express freight sector remains in its early stages, with significant opportunity for national network operators. Yimi Dida represents new models and new technology — lower cost and higher efficiency. In an era of rapid change in commercial and logistics flows, Yimi Dida has demonstrated remarkable agility, continuously building a future-oriented network that can aggregate greater industry resources.

Lin Chuan, Deputy General Manager of Sino-Ocean Capital, said: "China's less-than-truckload logistics market is massive and full of opportunity. Leading logistics network platforms like Yimi Dida are driving explosive industry growth. Investing in growth-stage companies requires not only judgment on industry trends and core enterprise value, but above all full confidence in Yimi Dida's business model and core management team. We are highly optimistic and fully supportive of Yimi Dida's future."

Chen Yi, Partner at Hopu Investment Management, said: "We are very bullish on Yimi Dida's prospects and believe that as supply chain infrastructure, it will create significant social value. As a strategic partner, Hopu is honored to accompany Yimi Dida's development and looks forward to broader, deeper cooperation. We will further strengthen cross-market, cross-product resource connectivity to provide customers with comprehensive, efficient capital markets services."

Dong Zhonglang, Strategic Advisor at Prologis, said: "Yimi Dida represents new models and new technology. The low-cost franchise model will become the trend in future industry consolidation. Tomorrow's logistics companies will be technology-driven tech companies. In this regard, one key focus for investors is technology — using capital to accelerate technological upgrades and improve operational efficiency."

Finally, at the press conference, Yimi Dida and China Renaissance held a strategic agreement signing ceremony. As China's leading integrated logistics service platform and a top-tier financial institution, the partnership achieves complementary strategic resources and advances a mutually beneficial logistics-finance ecosystem. Zhou Liang, Managing Director and Head of Private Equity Financing at China Renaissance, articulated market confidence in Yimi Dida and expressed China Renaissance's full commitment to supporting the company's bright future.

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