China’s Uber for Trucks Huochebang Said to Raise $115 Million

Truck Alliance Inc., an Uber-type service for trucks known in China as Huochebang, raised about $115 million in a financing round that valued the startup at $1 billion, according to two people familiar with the matter. The two-year-old company backed by Tencent Holdings Ltd. and Hillhouse Capital secured the capital in a round led by new investors International Finance Corp. and All-Stars Investment Ltd., the people said.