PR88611

SHANGHAI, March 22, 2021 /PRNewswire=KYODO JBN/ --

Duckbill, the world leading container trucking/drayage service platform

featuring intelligent dispatching and transportation management, announced the

closing of fund raising of US$50 million which marks the biggest funding in the

industry.

This round of funding was led by Temasek, with participation from Pavilion as

well as existing shareholders including Future Capital, Discovery Fund, Shunwei

Capital, Furong Capital, Zip Capital etc. Lighthouse Capital remained the role

of exclusive financial adviser. Since 2017, Duckbill has completed several

rounds of fund raising, which brings cumulative investments into the startup

company to approximately $100 million, making it second to none in China in

terms of amount and speed in this regard.

"In 2020, China's foreign trade value surpassed US$4.65 trillion,and homed 7

out of 10 busiest container ports in the world.The container drayage market in

China is unparalleled globally, which recorded annual turnover more than US$23

billion. In this context, Duckbill is embracing tremendous opportunities via

its advanced algorithm-empowered software and management system," said Mr. Tang

Hongbin, the founder of Duckbill.

Mr. Tang believes that Duckbill product is much more comprehensive than

freight-matching service provided by other transportation platforms in consumer

markets. "We serve the factory with the first mile logistics for their product

go abroad," Tang pointed out, "What our customers need is industrial Level

logistics, which guarantees visible, reliable, efficient solution basis a large

scale transporting capacity. Such capability is then only available in a

tech-driven company like Duckbill via its overwhelming advantages in both IT

and logistics industry comparing with existing traditional and clunky players."

Comparing with other trucking platform who are focused on long-haul shipments

or urban cargo transportation in China, Tang, the energetic and ambitious ex IT

manager, have smartly and decisively steered Ducksbill into a more complex but

lucrative niche. Beside the transportation service, Duckbill also provides

value adding services for customers such as customs declaration,cargo loading

surveillance etc.. This redefines service excellence in the industry. By end of

2020, Duckbill was serving 6,000 freight forwarders and shippers, transported

700,000 TEUs of goods across China. Its operation is active in Shanghai,

Qingdao, Taichang, Ningbo, Shenzhen. As a result, Duckbill has witnessed CAGR

of more than 220% by revenue since 2017.

"We are a digital , the future of the industry," said Tang, "in front of our

customers we are a reliable trucking fleet with 80000+ subscribed drivers and

capacity to handle 1000 loads of cargo daily today. Thanks to our edge in tech

and business mode, we are confident to grow 10-20 times bigger soon . With new

funding of the round, we are to constantly keep our leadership in the products,

expand to all major ports and introduce more products for our customers."

SOURCE: Duckbill

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=387148

   Caption: Duckbill will expand to all major Chinese ports in next two years.