(Yicai Global) June 6 -- Chinese local courier service platform, iShansong, has received a total of USD100 million worth of funding within six months this year via the recent series C+ financing (USD50 million) and the series C financing (USD50 million) in February, the company said today.
The latest round of financing was led by ShunWei Capital owned by Lei Jun, founder of China's electronics manufacturer Xiaomi Inc., and Beijing Hualian Group, with Hearst and Prometheus Capital acting as co-investors, reported internet media veteran Lei Jianping.
The last round of financing in February was led by SIG Asia Investments and YI Capital, and co-invested by Prometheus Capital.
According to company's own statement, iShansong reached the break-even point in April 2016 ahead of all other sharing economy companies in the logistics industry, and its order volume is growing at a rate of around 20 percent a month,
Founded by Beijing Yitong Air Express Service Co., it is the pioneer of 'one-hour intra-city delivery service' in China, and can schedule delivery time down to the minute.
In Beijing and Shanghai, for example, iShansong promises to respond to every order within one minute, and guarantees parcel collection in 10 minutes, and delivery in 19 minutes for orders within a straight-line distance of three kilometers, and in 33 minutes for orders of up to 10 kilometers. Intra-city deliveries are completed in 45 minutes on average, it claims.