Telecommunications and internet group SoftBank’s Vision Fund 2 has supplied $160m of series D2 funding to US-based baby clothing e-commerce platform PatPat, DealStreetAsia reported on Tuesday.
PatPat sells a variety of baby clothes, children’s clothes, matching family outfits, maternity clothes and accessories. It offers its products in over 100 countries and regions such as the UK, China and the Philippines.
PatPat has raised over $700m since it was founded in 2014. The company recently raised $510m across series C and series D rounds, which were announced in July 2021.
The series C round was co-led by growth equity firm General Atlantic, private equity firm Capital Today and CDH Shanghai Baifu Wealth Management, a subsidiary of the alternative asset manager CDH Investments.
SIG China, a subsidiary of quantitative trading firm Susquehanna International Group (SIG) also contributed to the series C, as did Ocean Link and Ince Capital.
DST Global led the series D round investing alongside General Atlantic, Ocean Link and GGV Capital.
PatPat raised $47.6m in a funding round also described as series C in 2018 that was led by Sequoia Capital and featured SIG unit SIG Asia as well as IDG Capital and Frees Fund.
PatPat previously received an undisclosed amount of funding across a series A round led by IDG Capital, a series A-plus led by Frees Fund and a series B led by SIG Asia.