Duckbill closes Pre-B with USD 30 mln

Duckbill, or Yazuishou.com, a container truck transportation service platform, announced the completion of its Pre-B round of financing raising 30 million US dollars.

Duckbill, or Yazuishou.com, a container truck transportation service platform, announced the completion of its Pre-B round of financing raising 30 million US dollars.

This round of financing was jointly led by Future Capital and Shunwei Capital, and followed by Unicorn. Lighthouse Capital acts as the exclusive financial advisor for the financing.

According to Duckbill, this round of financing will be mainly used for product research and development, business expansion in major ports across the country, and core talent recruitment. In the future, Duckbill will develop more new transportation services for customers around its key ports and routes.

Established in September 2017, Duckbill is mainly engaged in providing foreign trade container road transportation services. Through intelligent transportation system, the company makes container transportation digitalized.

The platform of Duckbill receives orders from international freight forwarding companies and subcontracts them to the truck drivers registered on the platform. The truck drivers can take orders and complete a series of operations on their own through the “Future Car Boss” APP.

At present, there are tens of thousands of truck drivers registered on Duckbill, with a monthly transportation volume of nearly 70,000 TEU, a year-on-year increase of more than 200%.

The business of Duckbill has covered Shanghai Port, Ningbo Port, Qingdao Port and Taicang Port. In September 2020, Duckbill also started trial operation in Shenzhen Port, which is expected to be officially launched in October.

Currently, Duckbill has served more than 5000 companies and has achieved faster growth compared to the same period of last year.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/09/12/duckbill-closes-pre-b-with-usd-30-mln/.

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