China-based maternity and baby-focused e-commerce company Lamabang has raised an undisclosed amount in a series D round led by consumer electronics retailer Suning, according to China Money Network.
Incorporated in 2004, Lamabang operates a website and mobile app for mothers and mothers-to-be. It sells products through its e-commerce platform and also provides content, discussion boards and tools for functions such as managing pregnancy weight or estimating baby weight.
The company claims to have attracted 66 million consumers to date, with 10 million active users as of December 2016. It is expected to merge with RedBaby, the maternity and baby e-commerce subsidiary of Suning also known as Honghaizi, following the transaction.
Lamabang received $100m in series C capital from Matrix Partners China, Greenwoods Asset Management and Morningside Ventures in 2015. E-commerce business VIPshop led the series C round according to China Money Network, though it was not listed in Lamabang’s announcement.
VIPshop took part in Lamabang’s $20m series B round in 2014, alongside Greenwoods, Morningside, Matrix and K2 Ventures, after Lamabang had secured $10m from Morningside, K2 and Matrix in a 2012 series A round.