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China social e-commerce start-up raises $10m from GGV

  • Holden Mann
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Chinese e-commerce discovery site Red has raised more than $10 million in Series B funding from GGV Capital.

The company did not disclose the exact amount raised. According to a release, GGV Managing Partner Hans Tung will join Red's board of directors.

Red, know as Xiaohongshu in Chinese, operates an e-commerce platform that offers discounted goods from overseas. The items available are chosen by users living outside of China, who post the products along with photos and their opinions. In addition, users can trade with each other via the platform's social network.

The company also produces country-specific mobile apps aimed to help Chinese travelers shopping overseas. These apps include introductions to the countries, measurement conversions, major department stores and useful phrases translated into the local language.

GGV is currently investing its fifth fund, which closed last year at $622 million. The firm also recently closed its Capital Select top-up fund at $457 million. It is active in China's tech sector, and has raised its exposure in the past few months to the country's growing internet of things market.

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