Alibaba, a China-based online trading and commerce group, has invested an undisclosed amount of series F funding in DDMap, a Chinese lifestyle e-commerce service website.
The investment follows an undisclosed series E round in October 2012 from a syndicate that also included Citi Ventures, the corporate venturing unit of the eponymous US-listed bank.
News reports said Alibaba, which has itself raised more than $1.6bn in recent years to invest in China’s logistics sector, was now the largest shareholder in DDMap, second to private equity firm F&H. The company secured $40m from a round led by F&H in April 2012.
According to news sources, DDMap has raised more than $60m to date, not including the latest undisclosed sum.
DDMap received its A round from Morningside Ventures in 2005; an undisclosed series B investment from Morningside Ventures and Korea-based KTB in 2008; series C investment of $9m from Morningside Ventures and smart phone company’s HTC Corporation Direct Investment Department in 2010; and series D financing of $40m from F&H and CID Group in April 2012. Alibaba participated in series E investment in October 2012.