How a 22-year-old Chinese firm is raising cash like a startup

Industrial products supplier Zhenkunhang embraced technology to transform its operations. Investors have responded with enthusiasm, financing a third funding round in two years.

How a 22-year-old Chinese firm is raising cash like a startup

Shanghai-based Zhenkunhang raised $129 million on Tuesday in what is the largest ever private fundraiser by a Chinese industrial product supplier offering a textbook example of how a traditional company can find success by embracing technology.

In a statement posted on its official microblog, the company said its series C funding round was led by Tiger Global Management and Legend Capital, the venture capital arm of Chinese conglomerate Legend Holdings.

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