Known as China’s “UBER for Trucks”, Huochebang Receives 1.9 Billion USD Investment
Developing China’s UBER-like mobile application in logistics , Full Truck Alliance Group received an investment of 1.9 Billion USD .
The total amount of funds provided by the community, which includes investors such as SoftBank Vision Fund, China Reform Fund, GSR Ventures and CapitalG , reached $6.5 billion . Existing investors, Tencent Holdings Ltd. and Sequoia Capital also contributed to the new investment round. GSR Ventures has confirmed that the investment has taken place.
The Full Truck Alliance company was formed when Huochebang and Yunmanman came together in November. Today, the company is led by Wang Gang , an angel investor in the transportation network company Didi Xhuxing . The company is trying to bring the multi-part transportation industry, which is worth 5 Trillion Yuan (792 Billion USD) in China, into the smartphone era.