Surpath Bags $15.64 Million in New Financing, Committed to Building A “Technology-Intensive” Supplier
Surpath, a cross-border supply chain technology company, announced on Thursday that it had continuously completed an angel round and a Pre-A round of financing exceeding 100 million yuan ($15.64 million), in which the angel round was partly led by China Merchants Venture, and the Pre-A round was exclusively invested in by Matrix Partners.
This round of financing will be used for optimization including technological upgrading and marketing, and Index Capital acted as the exclusive financial consultant.
Surpath was established in 2019. Driven by data and technology, the company improves the visualization of the industry and combines warehouse allocation operations and technology to achieve intelligent distribution, further reducing costs.
At present, the company has launched eight management systems related to supply chain and an intelligent data system, realizing visualized operation and timely prediction of orders. The revenue of products and services has exceeded 100 million in half a year.
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According to Surpath, some data show that China’s cross-border e-commerce transaction volume maintained rapid growth between 2016 to 2019. In 2020, the scale of cross-border export reached 8 trillion yuan, and the cost of logistics accounts for 25-35%, nearly 2.8 trillion yuan. The outbreak of cross-border e-commerce makes the digital information in various chains, such as business and logistics, grow exponentially, creating opportunities for supply chain services with professional and integrated capabilities.