(Yicai Global) Nov. 26 -- Fengyi Technology, a delivery drone maker owned by Chinese courier giant SF Holding, has completed a multimillion-dollar round of financing, Shanghai Securities News reported.

Investors in the A-round fundraiser included Tencent Holdings, CR Capital Management, and COFCO Capital, the report said today, citing Shenzhen-based Fengyi.

Following the round, Fengyi said it will further consolidate its technical base for normalization and large-scale operation in complex urban scenarios citywide, and improve its standardized service capabilities.

Fengyi has been piloting drone logistics services in many locations in China, including Jiangxi province’s Ganzhou city, western Sichuan province, the Jinshan district of Shanghai, and the Greater Bay Area of Guangdong province, Hong Kong and Macau.

Fengyi will also follow SF’s strategy to build a highly time-efficient urban low-altitude logistics transport and distribution network to improve service capabilities further, and give play to the scientific and technological support role of drones in the construction of smart city systems, the report said.

The latest fundraiser was an important step for SF to introduce strategic partners to the field of low-altitude logistics network building, the report said, adding that it was also an exploration to fortify the company’s ability to meet the growing personalized logistics needs of end users.

Editor: Peter Thomas