AAA ICHunt integrates nearly $100m from JD.com

ICHunt integrates nearly $100m from JD.com

ICHunt, the China-based operator of an electronic components trading platform, has collected almost $100m of series C funding from JD MRO, a maintenance, repair and operations subsidiary of e-commerce group JD.com, DealStreetAsia reported today.

Founded in 2015, ICHunt provides an online platform that connects electronic component suppliers to small and medium-sized businesses.  It has listed more than 60 million stock-keeping units and connected with more than 5,000 suppliers to date.

The proceeds of the round will speed up the company’s integration with JD MRO, as it seeks to expand its cloud-based supply chain infrastructure.

Video technology developer Shenzhen Huanuo Innovation participated in a $23m series B-plus round for ICHunt in 2018 that was co-led by two subsidiaries of securities firm Haitong Securities: Haitong Innovation Securities Investment and Haitong Kaiyuan Investment.

Beijing Wenhua Haihui and Hua Partners also participated in the 2018 round. The company raised an eight-figure renminbi (RMB10m = $1.5m) amount the year befire through a round led by JD.com that also featured Matrix Partners China, Welight Capital and N5 Capital.

Matrix Partners, WeLight and Hua Capital had provided $5m for the company’s series A round in 2016 after Matrix Partners China had invested a seven-figure dollar amount the previous year.

Jiang Chang, founder and CEO ofICHunt, is the largest shareholder in the business with a 37% stake, followed by Jiangsu Jucheng Kongjian Technology (33.6%) and Matrix Partners (11.3%).