Juma Logistics (驹马物流), an urban distribution service provider and a trucking service group, has raised hundreds of millions yuan in Series B+ round led by Sino-Ocean Group. Before that, it has completed a 450 million RMB (approx. USD 70.9 million) series B round of funding from Global Logistic Properties, New Hope Group, Tuofeng Investment, NewMargin Ventures and Ding Xiang Capital.
Logistics is one of the most promising industries in China, with its yearly GDP of more than RMB 10 trillion, according to China Federation of Logistics and Purchasing. And the market for urban distribution accounts for RMB 800-1000 billion (approx. USD 126 billion – 157.5 billion). For this reason, a number of industry competitors rushed into the market to grab more shares.
Founded in 2011, Juma Logistics mainly focused on providing urban distribution service. In 2015, the company tried to expand its market with the strategy of Internet + Truck Fleets of urban distribution. In 2016, Juma attempted to build a new pattern for urban distribution by integrating logistics, car sales and used car market and started to provide the last-mile delivery service for traditional logistics companies.
It’s said that Juma Logistics has realized the whole-process self-service from handling operation to goods delivery with its smart transportation management system. Meanwhile, the TMS system helped realize the effective management of orders, delivery routes and energy efficiency.
Juma Logistics has come up with multiple solutions to attract and retain drivers, including charging no commission to increase drivers’ income, assuring sufficient supply of goods to attract more new drivers, offering “Rent or Buy” options for truck drivers to increase engagement, and developing skill training to improve service quality.
The company has already started to build its own truck pool and has cooperated with well-positioned automobile manufacturers, striving for the last piece of its new pattern for urban distribution.
For the safety guarantee of every piece of goods, Juma Logistics has also established a whole-process monitoring system, purchased transportation insurance, implemented standard transportation procedures and made efforts in reducing the damage rate.
So far, Juma Logistics has 1,400 employees, 94 branches in 54 cities like Chengdu, Chongqing, Shenzhen, Guangzhou, Shanghai and Xi’an, and a user pool of over 100 enterprises, including SF Express, Tmall, Haier and Cainiao.com (Alibaba’s logistics arm). Bai Rubing, the founder and CEO of Juma Logistics, said that the company would be dedicated to urban distribution service in 2018 as before.
Read more about China’s logistics startups and market:
Logistics Crowdsourcing Platform BBT Raises $10 Million, Eyeing Overseas Markets
JD.com Raising $2.5bn for its Logistics Arm
