Backer closes multi-million-yuan Series A financing round

Backer recently announced the completion of Series A financing round, raising tens of millions of yuan. The round was led by Transfar Group, with participation from Shanghai Huiyang Investment. Yiren Capital served as financial advisor for this round.

Backer recently announced the completion of Series A financing round, raising tens of millions of yuan. The round was led by Transfar Group, with participation from Shanghai Huiyang Investment. Yiren Capital served as financial advisor for this round.

Proceeds from the latest funding will be mainly used for the development and construction of smart packaging cloud platform and to improve the user experience of the entire process of smart packaging embedded in the supply chain.

Established in 2016, Backer is a developer of IoT (Internet of Things) cloud platform designed to improve supply chain efficiency. The company’s platform allows users to visualize the transportation and storage of packages, enabling better understanding and monitoring of supply chain systems.

In 2018, the business volume of Backer exceeded 10 million yuan, and its annual revenue in 2019 exceeded 20 million yuan. In 2020, the company will also expand into industries such as smart cities, medicine, food, and chemical industries.

Prior to this round of financing, Backer had already received an angel round of tens of millions of yuan led by Transfar Group in October 2019.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/24/backer-closes-multi-million-yuan-series-a-financing-round/.

Leave a Reply

Please Login to Comment