Logistics management

Sequoia, Coatue invests in shipping services portal

Five-year-old startup raises $70 million in its third funding round in six months and claims to be the first to close series C funding among international shipping service providers in China.

Yunquna, a Chinese online portal for global shipping and air freight delivery services, has raised $70 million in a series C round of funding, its third capital raise in six months.

Yunquna said on Tuesday that the funding round was co-led by Sequoia Capital and US hedge fund Coatue Management. Chinese venture capital fund Source Code Capital also committed new funds.

Both Coatue Management and Source Code Capital invested in Yunquna’s previous round of funding four months ago. The company raised more than $10 million in the B2 funding round in February.

That was three months after it closed its B1 round of...

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