Duckbill Valuation, Funding & Investors
Duckbill is valued at $100M as of March 2021.
Last Duckbill valuation
$100M
Undisclosed stage · Mar 2021
Last Duckbill funding round
$49M
Series C · Jul 2022
Cumulative funding Duckbill raised
$133M
across 4 funding rounds
Key investors in Duckbill
Shunwei Capital
FutureCap
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Furong CapitalZhuopu Capital
Temasek
CICC
About Duckbill
Duckbill is a logistics provider offering container trucking, international freight forwarding, and warehousing in China. The company leverages big data and artificial intelligence to optimize routes, track shipments, and manage inventory for e-commerce and manufacturing clients. Based in Shanghai, Duckbill serves ports like Ningbo and Shenzhen with real-time visibility platforms.
Founded
2017
HQ
ShanghaiWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$100M (Mar 2021)
Duckbill Valuation
Duckbill is currently valued at $100M, based on its undisclosed-stage round in March 2021.
The $50M round was led by Temasek, with participation from Shunwei Capital, Furong Capital, FutureCap, Zhuopu Capital, Unicorn Capital Partners and 1 other investor.
Duckbill valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Undisclosed stage | $100M |
Duckbill Funding History
Duckbill has raised a total of $133M across 4 funding rounds.
Duckbill's first fundraising round was a $4M Series A in September 2018. The most recent completed round was a $49M Series C in July 2022.
Duckbill funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Series C | CICC (lead); Shunwei Capital; Furong Capital; FutureCap | $49M | - | Duckbill is a Chinese digital container logistics platform specializing in digitized container land transportation, established in 2017. It has completed 10 rounds of financing, with investors including Zhuopu Investment, CICC Capital, Shunwei Capital, Eminence Ventures, Future Capital, ANTS VC, and others. The company serves nearly 4,000 long-term vehicles and collaborates with over 15,000 temporary vehicles, positioning it as the world's largest in container trucking, with a focus on digital R&D investment and operations. Its R&D team comprises 30% of the workforce, generating dozens of intellectual property rights annually, and it is certified as a high-tech enterprise. In 2023, it achieved over 40% growth in orders despite post-pandemic market challenges. In July 2022, Duckbill announced a C round financing of CNY 330 million (approximately USD 48.85 million), led by SAIC-CICC private equity fund, with participation from existing shareholders Shunwei Capital, Future Capital, and Furong Capital. The funds were allocated to ongoing R&D for container land transportation digitalization, business expansion to additional Chinese ports, and service optimization. Duckbill has maintained a track record of annual investments since inception, including a recent multi-million dollar investment from Zhuopu Investment before the end of 2023. |
| Mar 2021 | Undisclosed stage | Temasek (lead); Shunwei Capital; Furong Capital; FutureCap; Zhuopu Capital; Unicorn Capital Partners; Pavilion Capital | $50M | $100M | Duckbill is a Shanghai-based logistics startup founded in 2017 that operates a digital freight-matching app connecting truck drivers with transportation orders for containers, akin to ride-hailing services. It facilitates land transport of containers from ports by breaking down large shipments into smaller orders for drivers, starting at Shanghai port and expanding to Ningbo, Taicang, Shenzhen, and Qingdao. The company also provides cargo loading and unloading services and had grown to about 6,000 corporate clients by March 2021, up from 5,000 in September 2020 when it raised USD 30 million in a pre-Series B round. On March 17, 2021, Duckbill closed a USD 50 million Series B funding round led by Temasek Holdings, with participation from Pavilion Capital and existing investors including Furong Capital, FutureCap (also referred to as Future Capital Discovery Fund), Shunwei Capital, Unicorn Capital Partners, and Zhuopu Capital. The round valued the company at approximately USD 100 million post-money, marking a new record in the industry according to the company's announcement. Lighthouse Capital acted as the dealmaker, highlighting Duckbill's innovative integration of supply and demand which improved efficiency and garnered strong feedback from clients and drivers. In 2020, Duckbill transported about 700,000 containers, demonstrating significant operational scale in China's logistics sector. The platform addresses inefficiencies in the chaotic logistics industry by offering stability through digital matching. Duckbill continued raising capital post this round, including a Series C of USD 48.89 million in July 2022 from China Capital Investment Group, Furong Capital, Future Capital Discovery Fund, and Shunwei Capital, and an unattributed VC round by December 2023, bringing total funding to over USD 133 million across 10 rounds from 13 investors. |
| Sep 2020 | Series B | Shunwei Capital; FutureCap | $30M | - | - |
| Sep 2018 | Series A | Ants VC; Eminence Ventures; Zhuopu Capital | $4M | - | - |
Who has invested in Duckbill?
10 investors have backed Duckbill across its funding rounds, including Shunwei Capital, FutureCap, Furong Capital, Zhuopu Capital, Temasek and CICC.
Lead investors include CICC and Temasek.
Duckbill Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Beijing | 3 | Participant | Sep 2020 | |
| Beijing | 3 | Participant | Sep 2020 | |
| Furong Capital | Shanghai | 2 | Participant | Mar 2021 |
| Beijing | 2 | Participant | Sep 2018 | |
 Singapore | 1 | Lead | Mar 2021 | |
| Shanghai | 1 | Participant | Sep 2018 | |
| Shanghai | 1 | Participant | Sep 2018 | |
| Beijing | 1 | Lead | Jul 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialDuckbill Competitors
Duckbill competitors include listed companies like Pluszero and Heroz, and private ones like Anything, Askable, Flower Labs and MachineFi Lab.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 San Francisco, CA | Private | $2M | - | $100M | 50.0x | |
 Brisbane | Private | - | - | $100M | - | |
 Hamburg | Private | $6M | - | $100M | 16.7x | |
| Los Angeles, CA | Private | - | - | $100M | - | |
 Japan | Publicly listed | $10M | $4M | $96M | 7.4x | |
| Japan | Publicly listed | $41M | $8M | $94M | 2.1x |
Duckbill Public Comps
Duckbill is still privately-owned, but its public comps include Logistic Properties of the Americas, Andino Investment Holding, Pluszero, Heroz, Laboro AI, Veritone, Compagnie de Transports au Maroc, tripla, Sequoia Logistica and Rank One Computing.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $50M | $46M | 9.3x | 8.9x | 10.1x | 16.1x | |||
| $164M | $36M | 1.6x | - | 7.3x | - | |||
| $10M | $4M | 8.8x | 7.4x | 23.5x | - | |||
| $41M | $8M | 2.1x | 2.1x | 11.7x | 13.7x | |||
| $12M | $2M | 6.4x | 6.4x | 49.0x | - | |||
| $92M | ($74M) | 1.6x | 1.4x | (2.0x) | (5.1x) | |||
| $193M | $5M | 0.8x | - | 26.5x | - | |||
| $17M | $4M | - | - | - | - | |||
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Common questions about Duckbill
| When was Duckbill founded? | Duckbill was founded in 2017. |
| Where is Duckbill headquartered? | Duckbill is headquartered in Shanghai, China. |
| Is Duckbill publicly listed? | No, Duckbill is a private, VC-backed company. |
| What is Duckbill's valuation? | Duckbill was last valued at $100M in its undisclosed-stage round in March 2021. |
| How much funding has Duckbill raised? | Duckbill has raised $133M across 4 funding rounds. |
| What was Duckbill's last funding round? | Duckbill's last funding round was a $49M Series C in July 2022, led by CICC. |
| Who are Duckbill's investors? | Duckbill's investors include Shunwei Capital, FutureCap, Furong Capital, Zhuopu Capital, Temasek, Ants VC, Eminence Ventures, CICC, Unicorn Capital Partners and Pavilion Capital. |
| Which companies are comparable to Duckbill? | Companies comparable to Duckbill include Anything, Askable, Flower Labs, MachineFi Lab, Pluszero and Heroz. |
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