China-based industrial e-commerce platform developer Ruigu has secured $250m in series D funding from insurance provider Taikang Life, warehouse operator GLP and conglomerate Xiamen C&D, DealStreetAsia reported today.
Private equity firm Primavera Capital Group led the round, which also featured alternative asset manager CDH Investments and venture capital firms Eastern Bell Capital, Source Code Capital and Chengwei Capital.
Xiamen C&D participated in the round through its Xiamen C&D Emerging Industry Equity Investment subsidiary.
Founded in 2015, Ruigu operates an e-commerce marketplace that allows industrial users to buy and sell maintenance, repair and operations supplies. The platform has signed up more than 150,000 small to medium-sized business users.
The company raised $42m in series C1 funding in September 2019 from CDH Investments and Zhongding Capital. It reportedly added “hundreds of millions of yuan” in a 2020 series C2 round, according to DealStreetAsia.
Source Code Capital and Chengwei Capital also backed Ruigu’s$32m series B2 round, which was led by Immensus Capital in 2018, having already combined in a $15m series B1 round the previous year.
