Ku Yun Dong, which runs the K121.com website, will receive $30m in a round of series-B funding, according to a report in Asian news provider Penn-Olson on Wednesday. The company has not revealed the identities of the investors involved.
The series A funding was completed over a year ago when the Acquity Group contributed $10m in September 2010, according to the report, which was sourced from Chinese language news site China Venture.
The Chinese sportswear e-retailer, the name of which translates to ‘Cool Sports’, sells men’s, women’s and children’s shoes, clothes, accessories and equipment for a range of sports. Global brands such as Nike, Adidas and Converse are sold alongside domestic Chinese products directly to online customers.
Chinese sporting goods sites OKBuy and LeTao are competitors.
Chicago-based Acquity Group is a brand e-commerce and digital marketing company with offices across the USA and two Chinese offices, in Shanghai and Beijing.
Zhu Qi Hong, CEO of Ku Yun Dong, said the company planned to use the new funds to invest in its marketing and a logistics upgrade.