CITY OF INDUSTRY, Calif., Dec. 10, 2020 /PRNewswire/ -- On November 24, Giga Cloud Logistics announced the completion of a new round of financing from company JD.com totaling at US $40 million. This investment from China's largest online retailer signals a promising outlook for the future developments of Giga Cloud and is set to play a paramount role in the expansion of this fast growing trading company.
Giga Cloud Logistics serves as an online B2B trading platform with complete logistics services for the furniture and large home goods market in the US and key European markets. The recently secured $40 million investment is one of many acquired by Giga Cloud Logistics, having received extensive financial backing during its early developmental stages from a variety of prominent investors including DCM, an internationally acclaimed venture capital firm. Based on an international business model backed by its own global logistics warehousing and data marketing analysis systems, Giga Cloud Logistics has built a "Global commerce hub for furniture and large home goods" to provide online and offline comprehensive services for both manufacturers and suppliers in addition to both on and offline retailers.
Having experienced a massive surge in growth since its launch in December 2018, Giga Cloud Logistics has drawn the attention of investors and clientele alike. Hundreds of suppliers utilize Giga Cloud's central Trade Marketplace, where they offer thousands of furniture, home fitness, and other large box home goods items to the thousands of registered and certified Marketplace resellers. The congregation of these companies from around the globe on the Giga Cloud online Marketplace has led to tens of thousands of transactions to date, all benefitting from the cutting edge services Giga Cloud Logistics has to offer such as fast-track nationwide order fulfillment which gives clients a competitive edge in their respective markets.
Regarding the recent JD investment acquisition, Vice President of Giga Cloud Logistics, Scott Chorna states, "We appreciate the support from all of our investors and will utilize this round of funding towards further advancing current developments within the European and US markets, in addition to backing extensive technological R&D. We are on track to see significant growth within the next year and expect to quickly become a primary leader within B2B commerce for clients in the key industries we are serving."