Horen Group’s $28 million infusion will support further growth in China and internationally.
On June 11, Horen Group, developers of industry-leading returnable packaging solutions, announced the completion of Series D financing of RMB 200 million, or roughly $28 million. The funding was provided through Lingang Science and Technology Innovation and Zhongguancun Science-Tech Leasing.
Horen will use this round of financing funds to increase the digitalization and platformization of industrial chains it services and expand upon its current network within China, It will also continue innovation in product development to provide green and intelligent packaging recycling services and contribute to Horen’s ESG and sustainable development.
“After more than 10 years of deep cultivation of the whole industry chain, we are beginning to see the advantages of scale, grid, and platform, becoming a returnable packaging provider trusted by many manufacturing companies and getting more and more attention and recognition from green capital,” said Jacky Liao founder, and CEO of Horen Group.
While Horen is quickly becoming the preferred supplier of returnable packaging and related services in China, international markets are also rapidly growing as Horen expands its international logistics and sales operations. The Americas, Europe, and SE Asia are providing Horen strong platforms for growth outside of China where markets are demanding new and alternate suppliers of innovative returnable packaging solutions.
The global cosmetics and food ingredients sectors have been particularly welcoming of the Horen liquid IBC solutions. These offerings deliver improved hygiene, greater efficiency and a more sustainable footprint. Horen has also seen strong growth among major corporations operating in the preserved fruit and tomato paste industries, with thousands of Horen’s dedicated fruit storage IBC (the FruToCon) being delivered in time for this year’s European harvest season.
“The industry has tended to use older more outdated storage bins as compared to Horen’s foldable liquid IBCs, and the Horen Fc330 gives our customers the best all-round performance,” said Piotr Gaszewski, Horen’s Head of Sales for Europe. “It’s stronger, more user friendly, and its lower folded height means our customers can save on reverse logistics and storage.”
Horen, headquartered in Shanghai, China, since its establishment in 1998, is a pioneer in crafting innovative returnable transport packaging solutions catered to diverse industries. With a dedicated team of over 400 employees, Horen persistently endeavors to offer products that are not only sustainable but also cost-efficient. They maintain their own advanced Testing Centre, ensuring a quick market introduction of new products and the assurance that their product quality and performance surpass industry norms.
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