DUBLIN, March 14, 2016 /PRNewswire/ --
Zhejiang Cainiao Supply Chain Management Co., the delivery affiliate of Alibaba Group Holding Ltd., has attracted a number of investments from Singapore and Malaysia during its first round of external fundraising since the company was created in 2013. Cainiao is seeking to expand its network of operations and acquire a larger logistics market share. The global logistics market is set to grow at a CAGR of 8.44% during the 2015-2019 period, according to a report available from Research and Markets, and Cainiao plan to take advantage of this strong growth.
Cainiao gained funding from investors including Temasek Holdings Pte., GIC Ote. and Kazanah Nasional Bernard, but did not specify the amount raised or the company's current valuation. The company has grown substantially since 2013, and handles over 70% of China's express packages. Cainiao's network will reach 2,800 county districts in China and 224 countries and regions globally by the end of the March. The company are reportedly planning to use investments to expand their network and reach the U.S., Russia, Brazil and Spain.
The express delivery market in China is expected to grow at a CAGR of 27.06% during the 2014-2019 period, as forecast in an industry report. This high growth will greatly benefit Cainiao, providing the company with a stable national market of loyal customers.
The e-commerce logistics market is set to grow at a CAGR of 9.69% during the 2016-2020 period, as predicted in a recent report. This growth could be higher thanks to Cainiao's expansion, as the company is likely to heavily invest in its e-commerce logistics technology to strengthen its market hold.
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SOURCE Research and Markets