China B2B fabrics trading app Baibu secures $25m

Existing investors Chengwei Capital and Source Code Capital also took part. The new funding will be used to further expand the scale of the business and improve the efficiency of its supply chain.

Operated by Guangzhou Zhijing Information Technology, Baibu is a mobile app connecting textile manufacturers and buyers. The company works with over 3,800 fabric suppliers. Its services currently cover major garment production cities such as Guangzhou, Foshan, Dongguan, and Hangzhou, servicing over 100,000 garment production enterprises from supply chain centers in Guangzhou and Shaoxing.

China’s textile industry was worth RMB10 trillion in 2015, with nearly 5,000 fabric suppliers producing about three million types of fabric and around a million new fabric types being launched every year, according to China's National Textile and Apparel Council.

Baibu has built a textile information database with over three million stock keeping units on its platform, which covers over 80% of all fabric available in the market. Buyers can easily use Baibu’s search engine to find the fabric patterns they want.

Source Code Capital provided angel funding to the company in 2015 and participated in a Series A round in March last year. In July 2016, Baibu raised a Series B round worth over $10 million led by Chengwei, according to AVCJ Research.

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• Topics
• Greater China
• Consumer
• Early-stage
• Industrials
• Technology
• China
• TMT
• Venture
• Source Code Capital
• Chengwei Ventures Shanghai