
Sequoia leads $48m round for China online baby products retailer
Sequoia Capital China has led a RMB300 million ($48 million) Series C round of funding for PatPat, a China-based e-commerce platform operator that exports maternal and infant products overseas.
Existing investors IDG Capital, FreesFund, and SIG Asia also participated in the round.
PatPat was established in 2014 as a business-to-customer (B2C) e-commerce platform, targeting middle-class families in Europe and the US. The company now connects more than 800 Chinese suppliers with over 20 million overseas users, selling 20,000 items on its website. PatPat operates self-owned warehouses in Europe and the US, with 4-10 days delivery for each order.
The company raised undisclosed sums in a Series A round from IDG and FreesFund, and a Series B round from SIG Asia. PatPat plans to use the latest funding on brand building and supply chain management, as well as collaboration with Chinese suppliers and product designers, it told local media 36kr.
Several Chinese online childcare retailers – including Mama+, Lamabang, BeiBei, Mia.com – previously received funding from PE and VC investors, but most of their revenue derived from the domestic market.
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