Sequoia, TrustBridge back China chemicals e-commerce site

Financial terms were not disclosed but the company said the size of the round amounted to tens of millions of dollars. Existing investors including Innovation Works, Fosun Kinzon Capital and Vangoo Capital also participated.

Shanghai-based Molbase started out as a chemicals information search engine in 2013 and has since expanded into an e-commerce marketplace, connecting global buyers with Chinese suppliers. It has over 40 million pieces of chemical compounds data available on its platform, attracting over 80,000 buyers and suppliers.

The company claims to receive 50,000 monthly orders and facilitate RMB60 billion worth of transactions every year.

AVCJ Research's records show that Molbase received a Series A round of funding from Innovation Works and TrustBridge in 2014. Last year, Fosun Kinzon Capital led a Series B round for Molbase. The new capital will be used to expand business operation, technology and add more staff, Dongliang Chang, Molbase's founder, told 36kr.

Elsewhere in the B2B e-commerce space, Zhaogang.com, a steel-trading platform backed by several VC investors, completed a Series E round of funding worth $153 million in January. Sequoia is also an investor. Prior to that, B2B plastics trading platform Zhaosuliao.com completed a $36 million Series B round last year.

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• Topics
• Greater China
• Venture
• Industrials
• Expansion
• Technology
• China
• Venture
• TMT
• Sequoia Capital
• Growth capital
• Trustbridge
• Fosun Group