Cainiao Network Technology has completed investment in logistics platform KXTX, becoming the second-biggest shareholder of the latter. This is the first external investment launched by Cainiao Network since its establishment one year ago. Both sides confirmed the investment, but declined to reveal the details. It is reported that the investment was several hundreds of millions yuan.

Cainiao has purchased large numbers of land plots in cities of Tianjin, Shanghai, Guangzhou, Wuhan Chengdu and Jinhua for warehouse. Cainiao plans to invest overall 300 billion yuan ($48 billion) in establishing central warehouses in nine core cities and transit ones in over 20 cities, according to plan of Jack Ma.

KXTX is a supply chain and logistics platform focused on road transportation. It has logistic centers in 11 cities countrywide, including Shanghai, Guangzhou, Chengdu, Hangzhou, Nanjing, Wuhan, etc. The company claimed that more than 1,000 medium and small logistics companies have been integrated in its platform.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.