Japan-based cross-border e-commerce platform operator Inagora raised $68m in series D funding from trading group Itochu, telecommunications company KDDI and financial services provider SBI Holdings on Wednesday.
Founded in 2014, Inagora runs an online and mobile platform that sells Japanese-produced goods to a mainly Chinese customer base. The series D capital will support the expansion of its logistics capabilities as it prepares to strengthen its offering in Southeast Asia.
The expansion plans, which will focus on Malaysia, Singapore, Hong Kong and Taiwan, will be executed alongside a hiring drive that will boost the company’s logistics, technology and marketing teams.
The round increased Inagora’s overall funding to $109m and follows a $21m series C round closed in November 2016 featuring World Investment Lab, a venture capital fund backed by 20 Japan-based corporate limited partners.
Ventech China and To-Win Invest also took part in the series C round, which followed a series A in February 2016 and a series B in May, the company said. Its existing investors also include True Fund and IDG Capital.