Cainiao and COSCO Shipping led a $264m funding round in Worldwide Logistics Group.

Cainiao, the official global parcel tracking platform of Alibaba Group, and COSCO Shipping, a Chinese international container transportation and shipping company, led a $264m funding round in Worldwide Logistics Group, provider of supply chain services in key industries. Additional investors include Sinovation Ventures and Yunqi Partners. The new financing will be used to fund the firm's continued construction of cross-border logistics infrastructures in an attempt to further its expansion in the global market. It also plans to accelerate the integration of industry technologies into its business.