Transportation platform oTMS has raised USD25 million in a Series B funding round led by Chen Weixing, the founder of Kuaidi Dache.
Previous investors Baidu, Chengwei capital and Matrix Partners China also participated in the round. China Renaissance was the exclusive financial advisor of the deal.
The funding will be used to support oTMS's growth, enhance its product depth and breadth, and broaden its national footprint.
"I have seen many logistics internet innovation, the idea of oTMS has truly reflected the core value of the internet by connecting people and companies with cloud and mobile technologies through unique transport ecosystem and create new business opportunities. oTMS is the one we can truly count on to undertake the mission of disrupting logistics industry," says Wexing.
With Chen's involvement, oTMS is hoping to accelerate the growth of its platform business, enhance the user experience of its products and to substantially expand its sales channels and sales opportunities.
Mirek Dabrowski, CEO and co-founder of oTMS, says: "Our series A investors brought us necessary experience in software as a service and enterprise software sales skillset. Thanks to this we have been able to rapidly grow oTMS into a leading transport software provider in China and make an already good product great. The purpose of B round is to bring more internet and B2C DNA to the company to enable us to grow even faster.”
oTMS began operation in January 2013 and has been growing rapidly by focusing on the large and medium size retailers and manufacturers as well as transport and logistics providers.
oTMS' customer base includes fashion/lifestyle, clothing, retail, consumer products, automotive, industrial, third party logistics, such as industry leaders Bestseller, LVMH, LiNing, Kerry Willmar, Shanghai Pharma. As of the first half year of 2016 oTMS has helped to process over 12 million shipments, an amount greater than shipments for all of 2015.
Currently over 500 companies have embraced the central oTMS idea to connect shippers, transport providers, drivers and consignees, on a single workflow, common language platform to achieve end to end transparency, drastically improve customer service experience and digitalise the supply chain.
The proceeds of B round will be used to further accelerate technical and commercial development of oTMS platform.
