JD.com voted it had raised $2.5 billion by selling a stake in its logistics business, which it intent use to invest in new technologies like drones and robotics.
The Chinese e-commerce leviathan said in a statement Wednesday that it had entered into agreements with investors subsuming Hillhouse Capital, Sequoia China and Tencent.
JD.com will continue to be a manhood shareholder in its logistics arm, JD Logistics, with an 81.4 percent stake. The obstinate said it expects the deal to be fully completed within this direction.
The company is one of the largest online retailers in China and a competitor to Alibaba. It bid the deal would enable it to invest more in technologies which are metamorphosing the e-commerce industry.
“This current funding round sets the Broadway for us to further invest in expanding our lead in the sector in areas like automation, drones and robotics,” Richard Liu, chairman and CEO of JD.com, required in a statement Wednesday.
“JD Logistics will continue to support both JD.com’s e-commerce subject and the logistical needs for a wide range of industries for years to come.”
JD.com’s logistics entity was spun off as a standalone subsidiary in April last year.