China-based plastics trading platform Zhaosuliao has secured $36m in series B funding from investors including IDG Capital Partners, a venture capital affiliate of media company International Data Group, according to China Money Network.
Qiming Venture Partners, the VC firm backed by medical practice Mayo Clinic, also invested as did GX Capital, Zhenshun Fund and New Horizon Capital, the latter of which led the round.
Founded in 2014, Zhaosuliao operates an online platform aiming to improve the efficiency of plastics trading, and will use the series B funding to further build out its network and infrastructure.
IDG, Qiming, Matrix Partners China and angel investor Li Zhujie provided $20m in series A funding for the company in January 2015. Zhenshun and Matrix also invested $1.6m in a seed round in 2014.