Investors in the funding round of Cainiao include Singapores Temasek Holdings [TEM.UL] and GIC Pte Ltd [GIC.UL], Malaysias Khazanah Nasional Bhd [KHAZA.UL] and Chinas Primavera Capital, Alibaba said in a statement, Reuters reports.
Alibaba did not disclose details of how much money Cainiao raised, whether it issued equity shares, or at how much the logistics unit is now valued. This is Cainiaos first funding round since Alibaba founded it in 2013, the company said. Then, Alibaba and a group of Chinese logistics companies said they would spend CNY 100 billion (USD 15.40 billion) over five to eight years to develop a national logistics network.
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