Eastern Bell Venture Capital has led a RMB360 million (US$52 million) series B round in Zhenkunhang, an industrial products e-commerce platform, with participation from Shenzhen Cowin Venture Capital Investments Ltd.
“Zhenkunhang is another investment of Eastern Bell in the business-to-business supply chain industry, after our investments in the fields of auto parts, fast moving consumer goods and food,” said Zhu Yinchun, a partner at Eastern Bell, in a company announcement.
Along with capital, Eastern Bell will support the start-up’s development by providing resources in the logistics industry. The firm has made several investments in the sector, including Zeyi Express, Deppon Logistics Co., Ltd., and Yichang Logistics.
Founded in 1996 in Shanghai, Zhenkunhang is an industrial products distribution platform, providing maintenance, repair and operation(MRO) tools and consumables. The company claims to offer one-stop MRO purchasing and management services based on its smart-storage technology.
It currently cooperates with over 5,000 suppliers, providing services to over 100,000 business customers.
The start-up plans to use the latest proceeds to invest in research and development, focusing on the areas of information technology and data.