Digital supply chain solutions provider FLUX has secured 300 million yuan ($41.2 million) in a fresh funding round led by MPC, previously known as Matrix Partners China.
Gaocheng Capital and GL Ventures, which is affiliated with Hillhouse Capital Group, joined the round, according to a company release on November 25. The proceeds will help the firm consolidate its market position and overseas market expansion, Gaocheng Capital’s founding partner Hong Jing said in the release.
Founded in June 2003, the Shanghai-headquartered firm provides warehouse management systems and other related digital supply chain solutions.
Previously, industrial conglomerate Honeywell acquired a 25% stake in FLUX in December 2017. Alongside the strategic investment, the NASDAQ-listed firm and FLUX also set up a joint venture, in which Honeywell held a 75% stake. The JV was set up to focus on opportunities in the Asia Pacific region.
The firm has offices in Beijing, Shenzhen, Wuhan, Chengdu and Kuala Lumpur.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from November 25– 29, 2024.
