B2B Textiles M-commerce App '100 Fabrics' Raises USD 30 Mln Series C1

iHeima, 8/29/18

Guangzhou-based Zhijing Information Technology, operator of fabric B2B m-commerce app Baibu, recently announced completion of USD 30 mln in Series C1 funding led by Bull Capital Partners with participation by Yunqi Partners, Chengwei Capital, and Source Code Capital.

Baibu uses a materials information database and image search technologies to provide search and matching capabilities for floral-printed fabrics. It also operates a warehouse system covering eastern, southern, and central China stock based on sales trends in local cities. Following the current funding round, Baibu plans to develop more than ten new fabric production centers in northern and southwestern China to increase its market share.

Baibu has already broken even. The company has partnered with more than 1,000 direct suppliers and has relationships with over 4,000 additional suppliers to provide more than 20,000 products in over 300 product categories. Approximately 2,000 new products are added to the platform per week.

Editor's Note: For more information on this topic, please see B2B Textiles M-commerce App '100 Fabrics' Completes RMB 165 Series B+, MD 8/09/17 issue.

Keywords: VC Baibu B2B m-commerce funding wireless Bull Capital Partners Source Code Capital Chengwei Capital Yunqi Partners Zhijing

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