Chinese supply chain service CMST Smart Logistics has raised RMB 761 million ($120 million) in its Series D, Chinese media outlet 36Kr reported. State-backed China Materials Storage & Transportation Group (CMST), which is the controlling shareholder of the company, invested RMB 130 million, while the majority of the remaining RMB 631 million came from five new strategic investors with government backgrounds. Founded in 2014, CSMT Smart Logistics offers intelligent supply chain and logistics services to more than 22,000 clients, with revenue hitting RMB 30 billion in 2021. [36Kr, in Chinese]


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