Chinese cold chain platform Ruiyun Cold Chain has completed raising 120 million yuan ($18 million) in its angel round from a group of investors including Eight Roads Ventures, state-backed China Merchants Venture, Panlin Capital and Qingsong Fund.

The fund raised will be used to develop the company’s IT infrastructure, logistics trading platform, among others. Ruiyun caters to clients in fields like catering, retail, fresh produce e-commerce, trade, and food industry, among others.