A new Chinese energy logistics vehicle rental firm DST has completed C1 financing. The round of funding had acquired tens of millions of US dollars, which would be used by the venture for digital operations, in-depth service business development, innovative product research and development, and smart asset acquisition. The company was also reported to make its way to the 5G eras.
DST, a new Chinese energy logistics vehicle rental firm, has completed C1 financing worth tens of millions of USD. The company had completed the first round of funding to power up its operations. The round was managed by Olympus Capital, led by Asian Environment Fund, and has existing shareholders such as Itochu and Jeneration Capital.
The funding would specifically be for digital operations, in-depth service business development, innovative product research and development, and smart asset acquisition. These processes were reported to be for the functions of an intelligence asset service provider (IASP).
Since 2015, DST had eyed the Chinese government's policy on new energy vehicles. The company provides new energy logistics fleet rental for different durations, sales, and operation support services for express logistics. It also extends its services to city distribution enterprises.
DST has also positioned itself as an IASP and has both online and offline digital service networks. The report claimed that its services fill the gap of in-depth services of new energy logistics vehicles. It was also referred to as a company that improves the areas of operation and maintenance and the charging and battery cascade utilization of vehicles used in logistics.
It was also mentioned that the DST currently operates with 30,000 vehicles in 50 cities in China. It was then perceived that the 5G eras is entering the Chinese business field that DST plans on providing more open and efficient interface services to its clients. Moreover, DST announced that it would also develop an application terminal and vehicle management application platform to actualize its plans.
It was also revealed that the networked vehicle operations would also cut the life cycle costs and improve efficiency in the logistics sector of China. The report claimed that the company already serves thousands of customers in 18 cities in the country. It was also mentioned that the company also sets up with vehicle enterprises from production to delivery stages. Moreover, it was also perceived to have a more flexible supply chain management and improves the quality of service of its clients.
