Beibei, a China-based babycare e-commerce platform backed by corporate venturing fund IDG Capital Partners, has secured $100m in series D funding, China Money Network reported today.
Venture capital firm Northern Light Venture Capital and private equity fund New Horizon Capital co-led the round, which included Banyan Capital and Capital Today. It valued Beibei at roughly $1bn, the same valuation at which it closed a $100m series C round in January 2015.
Founded in 2014 by e-commerce company Mizhe, Beibei operates an e-commerce marketplace for baby and infant products such as clothing, nappies, toys and educational materials.
The company’s $100m series C featured IDG Capital, which acts as US-headquartered IT media and research company International Data Group’s Chinese corporate venturing affiliate, as well as Capital Today, New Horizon Capital and Banyan Capital.
Mizhe had earlier been joined by IDG Capital and Banyan for a $24.3m series B round in August 2014.