Google-backed Chinese trucking startup raises $1.7B

Full Truck Alliance (FTA), a Chinese digital freight-matching startup, has raised $1.7 billion from a group of heavy-hitter investors including SoftBank’s Vision Fund, Sequoia, Permira and Fidelity, the Wall Street Journal reported.

The raise, announced on Tuesday, came two years after FTA, known as Manbang in China,  brought in $1.9 billion from investors including SoftBank and Alphabet Inc.’s venture capital fund Capital G.

Formed by the merger of two rival companies in 2017, Full Truck...

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