Beibei.com, a China-based e-commerce platform for maternal and baby products, has raised $100m in a series C round backed by IDG Capital, China Money Network reported on Thursday.
IDG Capital, the Chinese corporate venturing affiliate of media and data company IDG, was joined by Capital Today and New Horizon Capital, the co-leaders of the round, and Banyan Capital.
The round reportedly valued Beibei at $1bn, just nine months after its formation by parent company, e-commerce platform Mizhe. Mizhe led a $24.3m series B round for Beibei in August that also featured IDG Capital and Banyan.
Beibei’s platform links users to online retailers selling products such as children’s clothes, accessories, toys and nappies, and it has a specialised section for international sellers.
The company will invest the funding in customer service, growing its workforce and brand development as it seeks to expand geographically.