New Horizon, Addor Capital back China rural e-commerce play
New Horizon Capital and Addor Capital, a PE firm under Govtor Capital, have participated in a RMB500 million ($81 million) Series A round of financing for Huitongda, an online home appliance retailer that focuses on China’s rural areas.
Nanjing-headquartered Huitongda was founded in 2010 by Jianguo Wang and Xiuxian Xu. They previously set up Jiangsu Five Star Appliance, which was sold to US electronics retailer Best Buy at 2006. The...
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