Hive Box Valuation, Funding & Investors

Hive Box is valued at $3B as of January 2021.

Last Hive Box valuation

$3B

Series C · Jan 2021

Last Hive Box funding round

$400M

Series C · Jan 2021

Cumulative funding Hive Box raised

$1.1B

across 3 funding rounds

Key investors in Hive Box

  • Eastern Bell Capital
  • HSG
  • CDH Investments
  • Trustbridge Partners
  • China Development Bank Capital
  • GLP

Hive Box Overview

About Hive Box

Hive Box is a Shenzhen-headquartered operator of self-service smart lockers for parcel delivery and pickup across China. The network supports 24/7 access for e-commerce giants like JD.com and SF Express, integrating with over 100 logistics providers. Founded in 2015, it deploys more than 100,000 stations in cities including Beijing, Shanghai, and Guangzhou, handling millions of daily packages with features like facial recognition and real-time tracking.


Founded

2015

HQ

ChinaShenzhen

Website

fcbox.com

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$3B (Jan 2021)

Hive Box Valuation

Hive Box is currently valued at $3B, based on its Series C in January 2021.

The $400M round was led by Asia Forge (Cayman) and Trustbridge Partners, with participation from All-Stars Investment, Redview Capital and HSG.

Hive Box valuation by funding round

Hive Box valuation by funding round
DateStageValuation
Jan 2021Series C$3B

Hive Box Funding History

Hive Box has raised a total of $1.1B across 3 funding rounds.

Hive Box's first fundraising round was a $380M Series A in January 2016. The most recent completed round was a $400M Series C in January 2021.

Hive Box funding rounds

Hive Box funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2021Series CAsia Forge (Cayman) (lead); Trustbridge Partners (lead); All-Stars Investment; Redview Capital; HSG$400M$3B-
Jan 2018Series BS.F. Express; Long Star Growth; GLP; STO Express; Yunda Express; Eastern Bell Capital$323M--
Jan 2016Series ACDH Investments (lead); China Development Bank Capital; Yihao Capital; Eastern Bell Capital$380M-Hive Box, a unit of SF Express, operates smart parcel locker and delivery cabinet services in China, addressing last-mile logistics challenges in e-commerce. In January 2016, it raised a Series A funding round led by CDH Investments, with participation from China Development Bank Capital, Eastern Bell Capital, and Yihao Capital. The round size was reported as RMB 2.5 billion (approximately US$360 million) or 393,112,666 USD, marking one of the largest Series A rounds at the time. The funding supported expansion of its network amid China's booming e-commerce sector. The investors included prominent Chinese firms: CDH Investments as lead, a major alternative asset manager with over RMB 100 billion in assets; China Development Bank Capital; Eastern Bell Capital; and Yihao Capital. This investment reflected strong confidence in Hive Box's model for intelligent parcel stations, competing with players like Fengchao and Richland. SF Express's backing provided operational synergies for nationwide deployment. Hive Box aimed to capitalize on surging online shopping volumes in China.

Who has invested in Hive Box?

14 investors have backed Hive Box across its funding rounds, including Eastern Bell Capital, HSG, CDH Investments, Trustbridge Partners, China Development Bank Capital and GLP.

Lead investors include Asia Forge (Cayman), Trustbridge Partners and CDH Investments.


Hive Box Investors

Investors in Hive Box by funding rounds participated
InvestorHQRoundsRoleFirst check
Eastern Bell CapitalChinaShanghai2ParticipantJan 2016
S.F. ExpressChinaGuangdong1ParticipantJan 2018
Trustbridge PartnersUnited StatesBoston, MA1LeadJan 2021
China Development Bank CapitalChinaBeijing1ParticipantJan 2016
Long Star Growth--1ParticipantJan 2018
GLPSingaporeSingapore1ParticipantJan 2018
STO ExpressChinaShanghai1ParticipantJan 2018
All-Stars InvestmentHong KongHong Kong1ParticipantJan 2021
Asia Forge (Cayman)Cayman IslandsCayman Islands1LeadJan 2021
Yihao CapitalChinaChina1ParticipantJan 2016
Redview CapitalHong KongHong Kong1ParticipantJan 2021
HSGHong KongHong Kong1ParticipantJan 2021

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Hive Box Competitors

Hive Box competitors include listed companies like Delhivery and Xiamen Xiangyu Co, and private ones like ESR, Uber Freight, LexxPluss and Forto.

Public and private companies comparable to Hive Box
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ESRHong KongHong KongPrivate--$2.8B-
Uber FreightUnited StatesSan Francisco, CAPrivate$211M-$3.3B15.6x
DelhiveryIndiaIndiaPublicly listed$1.1B$80M$3.4B2.7x
Xiamen Xiangyu CoChinaChinaPublicly listed$61B$523M$2.5B0.1x
LexxPlussJapanKawasakiPrivate--$3.8B-
FortoGermanyBerlinPrivate--$2.1B-

Hive Box Public Comps

Hive Box is still privately-owned, but its public comps include KB Home, Yunda Holding Group, Asyad Shipping, Shanghai Lingang Holdings, Mobimo Holding, Seino Holdings, Kalmar Corp., Kamigumi, ArcBest and Green Brick Partners.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
KB Home$6.2B$584M0.8x0.9x8.2x10.4x
Yunda Holding Group$7.7B$540M0.4x0.4x5.5x4.5x
Asyad Shipping$875M$564M5.6x5.2x8.7x8.3x
Shanghai Lingang Holdings$1.2B$527M7.8x7.9x17.4x18.1x
Mobimo Holding$421M$318M12.9x15.3x17.1x21.1x
Seino Holdings$5.2B$460M0.6x0.6x6.7x7.1x
Kalmar Corp.$2B$317M1.4x1.4x9.2x8.6x
Kamigumi$1.9B$377M1.6x1.6x8.2x9.6x

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Common questions about Hive Box

When was Hive Box founded?Hive Box was founded in 2015.
Where is Hive Box headquartered?Hive Box is headquartered in Shenzhen, China.
Is Hive Box publicly listed?No, Hive Box is a private, VC-backed company.
What is Hive Box's valuation?Hive Box was last valued at $3B in its Series C in January 2021.
How much funding has Hive Box raised?Hive Box has raised $1.1B across 3 funding rounds.
What was Hive Box's last funding round?Hive Box's last funding round was a $400M Series C in January 2021, led by Asia Forge (Cayman) and Trustbridge Partners.
Who are Hive Box's investors?Hive Box's investors include Eastern Bell Capital, S.F. Express, Trustbridge Partners, China Development Bank Capital, Long Star Growth, GLP, STO Express, All-Stars Investment, Asia Forge (Cayman), Yihao Capital and 4 others.
Which companies are comparable to Hive Box?Companies comparable to Hive Box include ESR, Uber Freight, Delhivery, Xiamen Xiangyu Co, LexxPluss and Forto.

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