E-commerce outsourcing provider Guangzhou Yiji Network Technology has obtained USD 20 mln in second-round funding from Trust Bridge Partners, IDG Capital Partners and Hong Kong firm Big Profit.
Guangzhou Yiji Network Technology, established in 2009, provides e-commerce outsourcing services for major brands. Yiji has already entered into strategic partnerships with 20 household appliance manufacturers including Midea, Joyoung, Supor, and Philips Electronics. At the same time, Yiji has also entered into stable strategic partnerships with several e-commerce platforms including Hangzhou-based B2C e-commerce site Taobao Mall; Tencent's (0700.HK) B2C & C2C e-commerce site Paipai; Lekutian, a B2C e-commerce platform operated by Chinese internet company Baidu (Nasdaq: BIDU) and Japanese e-commerce retailer Rakuten; Chinese B2C platform Joyo Amazon; and Chinese B2C e-commerce site Dangdang (NYSE: DANG).
Chairman Li Pan stated that after this round of funding, Yiji will take steps to expand its IT system and invest in warehousing and logistics, as well as expanding its brand and platform partnerships. By Q1 2012, the company will have completed construction of a 100,000 square-meter national storage center, and daily order processing capabilities will have exceeded 100,000 orders. At present the company has mainly entered into agreements with the household electronics industry.