SoftBank Vision Fund, Sequoia Capital, Permira and Fidelity led a $1.7bn funding round in Manbang Group.

SoftBank Vision Fund, Sequoia Capital, Permira and Fidelity led a $1.7bn funding round in Manbang Group, a Guiyang, China-based transportation and logistics platform, with participation from Hillhouse Capital, GGV Capital, Lightspeed China Partners, Tencent and YF Capital. The latest funding will allow Manbang to further invest in research and development, upgrade its matching system and expand its service capacity to functions like door-to-door transportation.