He has obtained multiple rounds of investment from Sequoia Capital, Innovation Workshop, True Fund and other institutions.
We learned that Kuaitu Logistics has recently completed a Series B round of financing led by Zhongwei Capital and Country Garden Venture Capital VC Fund, with an amount of about 200 million yuan. Old shareholders such as Alto Investment and Innovation Workshop continue to invest. The new round of financing will mainly be used for the three aspects of national market expansion, product upgrades and technology research and development.
Fast Rabbit Logistics was established in August 2017. It is an intelligent logistics platform that provides one-stop door-to-door transportation services for SMEs. Previously, the company had obtained multiple rounds of investment from Sequoia Capital, Innovation Workshop, Zhen Fund and other institutions.
has reported on Kutu Logistics. The company ’s business model is different from freight forwarding and third-party logistics. The customers of Kuaitu Logistics mainly come from small and medium-sized enterprises with limited funds, small transport volume and scattered. Kuaitu Logistics obtains capacity resources by collecting and collecting upstream capacity to help customers save capacity procurement costs. In addition, the company has built an AI platform. Different customers’ logistics and transportation attributes are collected and marked to form big data to help achieve faster capacity matching later, while providing customers with end-to-end logistics information tracking, supporting online settlement, invoicing, and receipt.
Fast Rabbit Logistics ’service network has covered the Pearl River Delta, the Yangtze River Delta, the Hercynian Economic Belt, and the Bohai Rim Economic Circle, forming a direct regional transportation delivery network across the country, successfully serving tens of thousands of SMEs.
Liu Chenhuan, CEO of Kutu Logistics, said that SME logistics services are a trillion-level blue ocean market. The company has always focused on technological innovation and model innovation. Kuaitu Logistics will continue to improve product service experience in the future.
Zhang Yonghan, the founding management partner of the leading investor Zhongwei, said that Kuaitu ’s customers are positioned as small and medium-sized enterprises, and the sales channels of domestic small and medium-sized enterprises are showing a sinking trend. More efficient “one-stop door-to-door” services require specialized operations with lower costs and higher efficiency. In addition, the CR10 of China’s large-ticket LTL market is now less than 5%, and the market is extremely fragmented. There are platform-level integration opportunities, and there is an opportunity to create a new SF. We deeply researched China’s large-ticket LTL market, and made decisive decisions in a special period of the epidemic, and finally chose Kuaitu.
The following are previous reports
According to statistics, China’s logistics and transportation costs in 2018 were nearly 7 trillion yuan, accounting for 54% of the total logistics costs for the whole year. Among them, the cost of road transportation exceeds 5 trillion yuan, while the long-tail supply source mainly for SMEs accounts for about 70%, about 4 trillion yuan. But the main problems facing the long tail market are high logistics costs and poor service quality. The main reason is that: SMEs have a small service volume, lack professional logistics management experience, and do not have bargaining power, so it is difficult to enjoy standardized services.
Fast Rabbit Logistics is a medium and long-distance transportation solution for SMEsThe core product of the company in the case and escrow service is the logistics escrow platform built with artificial intelligence.
Different from traditional third-party or fourth-party logistics, Kuaitu Logistics uses artificial intelligence technology to provide transportation solutions based on user transportation needs and achieves end-to-end data tracking of logistics. The company’s capacity mainly comes from social capacity and does not provide warehousing services. In the operation process, only the distribution center and light distribution center are self-built offline, assisting the online system to sort, strengthen and load the goods.
A brief introduction to the operation mode of the logistics escrow platform. The platform collects logistics and transportation attribute labels for each registered user, including price sensitivity, delivery requirements, and transportation timeliness. According to different labels of each customer, the appropriate transportation scheme is automatically matched by intelligent system calculation to ensure efficient transportation. And low cost.
At the same time, the intelligent system has the learning ability, which can sort out the customer’s shipping rules, regular shipping lines, claims requirements, etc. from the customer’s previous shipping orders, and automatically add it to the tag library. Although the back-end system is complicated, the front-end presentation is very simple. Users can check prices and place orders through WeChat applets, view the goods in transit information in real time, and complete settlement and invoicing online.
The advantages of the logistics escrow platform are reflected in the following two aspects:
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For SME users, it solves the problems of high logistics cost and low efficiency. The company has currently served more than 10,000 small and medium-sized customers, and has a greater advantage than the price offered by freight forwarders and third parties in the market through the way of transportation capacity. In addition, the end-to-end information tracking of logistics provides users with great convenience and a good user experience.
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For Kuaitu Logistics Company, since more than 90% of its operational decisions are made by artificial intelligence, the company operates light assets. At present, the team has more than 800 people, mainly composed of BD and service personnel. low cost. Therefore, the expansion of the platform is fast. The company’s founder Liu Chenhuan told reporters that the product has been tested since August 2017. Since its landing in 2018, it has covered the Pearl River Delta, the Yangtze River Delta, the Bohai Rim, and the west of the Straits. Mainly, it also includes small parts express and vehicle transportation. In 2020, it plans to go deeper inland to carry out business.
Fast Rabbit Logistics was founded in August 2017. The founder Liu Chenhuan and the core team have extensive experience in logistics and Internet. The company’s main revenue comes from freight, and the premium is realized through centralized capacity collection and efficiency cost optimization. Customers are basically in cash, so the company’s cash flow is good. The company’s main shareholders come from investment institutions such as Sequoia Capital, Zhen Fund, and Innovation Workshop.