AVCJ

China B2B online liquor retailer Yi Jiu Pi raises $30m

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Yi Jiu Pi, a Chinese B2B online liquor retailer, has raised an extended Series B round worth RMB200 million ($30 million) co-led by domestic GPs Yuan Sheng Ventures and Eastern Bell Venture Capital.

The round values Yi Jiu Pi at about RMB3 billion, the company told local media. Existing investors Source Code Capital and Light House Capital also participated.

Founded in 2014, Yi Jiu Pi supplies wines and spirits to convenience stores and offline beverage retailers. Its services now cover 39 Chinese cities, facilitating RMB300 million worth of transactions every month. AVCJ Research's records show that Bertelsmann Asia Investment (BAI) invested in Yi Jiu Pi in 2014. Last year, Source Code, Greenwoods Investment and BAI committed a further RMB200 million.

The fresh funding will be used to scale up operations, expanding services into new cities and building warehouses. The company also plans to provide online finance, big data and advertising services to customers.

Jiuxian, an online B2C liquor retailer, listed on the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board, last year. The company was founded in 2009 and raised approximately $225 million across seven funding rounds.

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