Zhenkunxing Valuation, Funding & Investors

Zhenkunxing is valued at $1.9B as of October 2020.

Last Zhenkunxing valuation

$1.9B

Series E · Oct 2020

Last Zhenkunxing funding round

$300M

Undisclosed stage · Jun 2022

Cumulative funding Zhenkunxing raised

$1000M

across 8 funding rounds

Key investors in Zhenkunxing

  • Matrix Partners China
  • Eastern Bell Capital
  • Legend Capital
  • Cowin Capital
  • Genesis Capital
  • Tencent

Zhenkunxing Overview

About Zhenkunxing

Zhenkunxing is a Beijing-headquartered e-commerce platform delivering supply chain solutions for industrial products. It stocks over 4 million SKUs across 28 categories such as personal protective equipment, hand tools, metal processing machinery, fasteners, measurement instruments, and chemicals. The platform connects manufacturers with suppliers through digital procurement tools and intelligent logistics services, serving sectors like manufacturing, construction, and energy. Zhenkunxing operates nationwide in China with warehouses in multiple provinces, facilitating one-stop purchasing for maintenance, repair, and operations needs.


Founded

1998

HQ

ChinaShanghai

Website

zkh360.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.9B (Oct 2020)

Zhenkunxing Valuation

Zhenkunxing is currently valued at $1.9B, based on its Series E in October 2020.

The $315M round was led by YF Capital, with participation from Matrix Partners China, Tiger Management Corporation, Xiamen C&D Corporation, Tencent, GLP and 5 other investors.

Zhenkunxing valuation by funding round

Zhenkunxing valuation by funding round
DateStageValuation
Oct 2020Series E$1.9B

Zhenkunxing Funding History

Zhenkunxing has raised a total of $1000M across 8 funding rounds.

Zhenkunxing's first fundraising round was a $2M Series A in November 2015. The most recent completed round was a $300M undisclosed-stage round in June 2022.

Zhenkunxing funding rounds

Zhenkunxing funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2022Undisclosed stage-$300M--
Oct 2020Series EYF Capital (lead); Matrix Partners China; Tiger Management Corporation; Xiamen C&D Corporation; Tencent; GLP; Cowin Capital; CIC Capital; China Structural Reform Fund; Legend Capital; Eastern Bell Capital$315M$1.9BZKH Industrial Supply Co. Ltd. is a Chinese business-to-business platform for industrial products distribution, established in 1996 in Shanghai. The company distributes industrial products including adhesives, lubricants, and equipment, while providing maintenance, repair, and operations solutions to enterprises through integrated e-commerce channels and offline networks such as regional service centers, logistics operations, and smart storage management. In October 2020, ZKH completed a Series E financing round of $315 million led by YF Capital, with joint lead investors China Structural Reform Fund Co. Ltd. and CIC International Ltd. (China Investment Corp.'s overseas investment subsidiary). The funding brought ZKH's total capital raised to 4.5 billion yuan ($671 million) across multiple rounds. Prior funding included $160 million in Series D from Tencent, MatrixPartners China, Legend Capital, Eastern Bell Capital, and Shang Qi Capital in 2019, and $129 million in Series C from Tiger Global, Shell, and Oriza Holdings in 2018. At the time of the Series E round, ZKH had established over 8,000 partnerships and counted more than 15,000 clients. The company stated that the fresh capital would be allocated toward products, services, technology, team management, and enhancing supply chain capacity. Investment bank China Renaissance Holding Ltd. facilitated the transaction, and YF Capital partners highlighted their belief that ZKH could significantly contribute to China's manufacturing innovation through its digitalized one-stop service platform.
Jun 2019Series DTencent (lead); Matrix Partners China; Legend Capital; Genesis Capital; Eastern Bell Capital$160M-Zhenkunhang (also referred to as Zhenkunxing), operating as zhk360.com, is a Shanghai-based e-commerce platform providing one-stop procurement of over 2 million types of industrial products, including excipients, consumables, production and maintenance equipment, chemicals, and raw materials for factories. It enhances supply chain transparency and digital procurement in China's Maintenance, Repair, and Operations (MRO) sector, drawing parallels to consumer e-commerce giants like Taobao. In June 2019, Zhenkunhang completed a Series D funding round raising USD 160 million, led by Tencent with participation from Genesis Capital, Legend Capital, Matrix Partners China, and Eastern Bell Capital. This marked the largest single-round investment in China's MRO industry, bringing the company's total financing to approximately USD 430 million. Matrix Partners had previously invested in Series B+, C, and continued in D. The company reported RMB 2 billion (USD 289 million) in revenue for 2018 and targeted threefold growth in 2019. CEO Chen Long, with over 20 years in MRO, leads a team praised for industry expertise and execution. Investors like Tencent see strong potential in industrial supply chain integration and digital upgrades. Tencent's investment highlights its push into manufacturing and technology transformation for industrial suppliers. The platform serves third-party customers by improving accessibility in industrial procurement.
Apr 2019Series AOriza Holdings$7M--
Aug 2018Series CLegend Capital (lead); Tiger Global (lead); Matrix Partners China; Shell; Zhongdingli Long Touzi; Genesis Capital; Oriza Seed Capital (Oriza Yuandian)$129M-Zhenkunxing, founded in 1998 as a traditional MRO (Maintenance, Repair & Operations) agency, pivoted in 2011 to a B2B ecommerce platform for industrial supplies procurement, featuring internet-enabled smart storage solutions. The company is based in Shanghai and operates in the industrial products e-commerce sector. In 2017, Zhenkunxing raised CNY 580 million across two rounds from Eastern Bell Venture Capital, Cowin Capital, Genesis Capital, and Matrix Partners China. The company operates amid China's emerging industrial internet and B2B ecommerce landscape, comparable to peers like Zhaogang.com (steel B2B, 2017 revenue CNY 17.5 billion) and Yijiupi (consumer goods B2B).
Dec 2017Series BGenesis Capital (lead); Matrix Partners China; Huiyou Touzi; Eastern Bell Capital$33M-Zhenkunxing, founded in 1998 as a traditional MRO agency, transformed in 2011 into a B2B ecommerce platform for industrial supplies procurement, offering internet-enabled smart storage solutions. In 2017, it closed two funding rounds totaling CNY 580 million from investors including Eastern Bell Venture Capital, Cowin Capital, Genesis Capital, and Matrix Partners China, matching the queried investors and approximate date. Genesis Capital is noted as the lead investor in query context, though not explicitly in sources. The 2017 Series B round aligns with the platform's growth phase, providing comprehensive supply chain solutions via ecommerce, digital tools, and intelligent services across 28 product lines and over 4 million SKUs, including PPE, hand tools, metal processing, fasteners, instruments, and chemicals. No specific round size breakdown, post-money valuation, revenue, ARR, or EBITDA figures are provided for this round or 2017 period. Following the 2017 rounds, Zhenkunxing raised a USD 129 million Series C in August 2018 led by Tiger Global and Legend Capital, and a Series D in 2019. Later developments include a 2023 US SEC prospectus filing under ZKH Group Ltd, detailing operations in industrial MRO products via platforms ZKH and GBB, serving over 64,000 customers with 1.9 million orders in LTM to September 2023, but no 2017 financials. Investors like Eastern Bell (14.9% stake) and Genesis Capital (10.2% stake) are listed in recent shareholder data.
Jul 2017Series BEastern Bell Capital (lead); Matrix Partners China; Cowin Capital; Ningbo Dingpu Touzi$53M-Zhenkunxing, founded in 1998 as a traditional MRO agency, transformed in 2011 into a B2B ecommerce platform for industrial supplies procurement, offering internet-enabled smart storage solutions. In 2017, it closed funding rounds totaling CNY 580 million from Eastern Bell Venture Capital, Cowin Capital, Genesis Capital, and Matrix Partners China, with Eastern Bell leading a RMB 360 million ($52 million) Series B round around July 2017. A subsequent USD 129 million C round was announced on August 27, 2018, led by Tiger Global and Legend Capital. The company later pursued an overseas listing, filing with the US SEC and receiving CSRC approval in November 2023, operating platforms ZKH and GBB covering 17.2 million SKUs and serving over 64,000 customers with 1.9 million orders in the past 12 months to September 30, 2023. As of prospectus data, Eastern Bell held 14.9% shares, Genesis Capital 10.2%, and Tencent 9.4%, with later revenues reported as RMB 4.620 billion for nine months of fiscal 2020, escalating to RMB 8.087 billion in fiscal 2022, though these are post-2017 figures.
Nov 2015Series ACowin Capital; Shandong Hongqiao$2M--

Who has invested in Zhenkunxing?

20 investors have backed Zhenkunxing across its funding rounds, including Matrix Partners China, Eastern Bell Capital, Legend Capital, Cowin Capital, Genesis Capital and Tencent.

Lead investors include YF Capital, Tencent, Legend Capital, Tiger Global, Genesis Capital and 1 other investor.


Zhenkunxing Investors

Investors in Zhenkunxing by funding rounds participated
InvestorHQRoundsRoleFirst check
Matrix Partners ChinaChinaBeijing5ParticipantJul 2017
Eastern Bell CapitalChinaShanghai4LeadJul 2017
Cowin CapitalChinaShenzhen3ParticipantNov 2015
Legend CapitalChinaBeijing3LeadAug 2018
Genesis CapitalHong KongHong Kong3LeadDec 2017
TencentChinaShenzhen2LeadJun 2019
Tiger Management CorporationUnited StatesNew York City, NY1ParticipantOct 2020
YF CapitalChinaShanghai1LeadOct 2020
Xiamen C&D CorporationChinaXiamen1ParticipantOct 2020
ShellUnited KingdomLondon1ParticipantAug 2018
GLPSingaporeSingapore1ParticipantOct 2020
Zhongdingli Long TouziChinaNingbo1ParticipantAug 2018
CIC CapitalFranceParis1ParticipantOct 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Zhenkunxing Competitors

Zhenkunxing competitors include listed companies like Beijing United and Impro Precision, and private ones like Tuduoduo, Moglix, Infra.Market and CADDi.

Public and private companies comparable to Zhenkunxing
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Beijing UnitedChinaChinaPublicly listed$7.6B$373M$2.2B0.2x
TuduoduoChinaBeijingPrivate--$2.3B-
MoglixSingaporeSingaporePrivate--$2.5B-
Infra.MarketIndiaMumbaiPrivate$1B-$2.8B-
CADDiJapanTokyoPrivate--$1.1B-
Impro PrecisionUnited StatesUnited StatesPublicly listed$649M$169M$1.8B-

Zhenkunxing Public Comps

Zhenkunxing is still privately-owned, but its public comps include Impro Precision, Burckhardt Compression, Montana Aerospace, OPmobility, UMS Integration, ACV Auctions, FORVIA, Modivo, Beijing Zhongke Sanhuan and AQ Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Impro Precision$649M$169M3.1x-11.9x-
Burckhardt Compression$1.3B$195M1.3x1.3x8.4x8.9x
Montana Aerospace$1.1B$172M1.6x1.5x10.8x8.9x
OPmobility$12B$902M0.3x0.3x4.1x3.3x
UMS Integration$196M$59M9.1x7.4x30.3x22.6x
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x
FORVIA$25B$917M0.4x0.4x11.8x3.4x
Modivo$2.9B$224M1.0x0.9x12.8x7.3x

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Common questions about Zhenkunxing

When was Zhenkunxing founded?Zhenkunxing was founded in 1998.
Where is Zhenkunxing headquartered?Zhenkunxing is headquartered in Shanghai, China.
Is Zhenkunxing publicly listed?No, Zhenkunxing is a private, VC-backed company.
What is Zhenkunxing's valuation?Zhenkunxing was last valued at $1.9B in its Series E in October 2020.
How much funding has Zhenkunxing raised?Zhenkunxing has raised $1000M across 8 funding rounds.
What was Zhenkunxing's last funding round?Zhenkunxing's last funding round was a $300M undisclosed-stage round in June 2022.
Who are Zhenkunxing's investors?Zhenkunxing's investors include Matrix Partners China, Eastern Bell Capital, Cowin Capital, Legend Capital, Genesis Capital, Tencent, Tiger Management Corporation, YF Capital, Xiamen C&D Corporation, Shell and 10 others.
Which companies are comparable to Zhenkunxing?Companies comparable to Zhenkunxing include Beijing United, Tuduoduo, Moglix, Infra.Market, CADDi and Impro Precision.

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