Diversified internet company Baidu has led a $150m series D round for China-based online baby and maternity retailer Mia.com, China Money network reported today, citing local media reports.
Founded as Miyabaobei, Mia runs an e-commerce platform specialising in discounted and imported maternity and childcare products. The service began life on online marketplace Taobao in 2011 before launching its own website and mobile commerce apps in 2013.
The other series D investors have not been disclosed, but the round follows a $60 series C round in December 2014 led by H Capital that also featured venture capital firm Sequoia Capital and early-stage fund ZhenFund.
Sequoia previously led Mia’s $20 series B round in July 2014, which came after a $1.6m series A round led by China Renaissance K2 Venture.
The participation of China-based Baidu, best known for its search engine, signifies its desire to continue scaling up its business into a connected online services company, much like rivals Tencent and Alibaba.
Baidu is leading the $1.2bn round being raised by ride hailing app Uber China, and also recently led the $100m series B round closed by laundry services provider Edaixi.