Truck Alliance Inc., a fairly new player in China’s estimated $1.6 trillion logistics industry, has raised an additional $115 million from a group of investors including the International Finance Corporation and All-Stars Investment Ltd. The recent funding round gives the company, which is often referred to as the “Uber for Trucks,” a $1 billion valuation. Trading under the name Huochebang, which means “truck gangs,” Truck Alliance operates an online platform that matches empty cargo trucks with suppliers who need to transport their commodities. Other backers of the company include DCM Ventures, Genesis Capital and Chinese multi-billion dollar conglomerate Tencent Holdings Limited.
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