Guangzhou-based Zhijing Information Technology, the company behind self-operated B2B m-commerce app for fabrics and textiles Baibu (literally "100 Fabrics"), recently announced completion of RMB 165 mln in Series B+ funding led by Yunqi Partners, with participation from previous investors Chengwei Capital and Source Code Capital. The new funding will be used to further expand the scale of the company's business and build its supply chain systems.
Baibu has established supply chain centers in Guangzhou and Shaoxing, working in close partnership with over 800 direct suppliers and having links with 3,000 other direct suppliers. Baibu has also set up a self-operated fabric information database with over 3 mln SKUs, which covers over 80% of all fabric available in the Chinese market.
Currently, the scope of Baibu's business has expanded to major garment production cities such as Guangzhou, Foshan, Dongguan, Hangzhou, Shaoxing, Wuhan, and Chengdu, servicing over 100,000 garment production enterprises.
Editor's Note: For more information on this topic, please see "Fabrics B2B M-commerce App 'Baibu' Lands USD 8-digit Series B," MD 7/04/16 issue.