Fabrics B2B M-commerce App 'Baibu' Lands USD 8-digit Series B
36Kr.com, 7/04/16
Guangzhou-based Zhijing Information Technology, the company behind self-operated B2B m-commerce app for fabrics and textiles Baibu, recently announced completion of USD 8-digit Series B funding led by Chengwei Capital and with participation from Series A+ investor Source Code Capital. Funds will be used to scale up business operations, add high quality suppliers to the platform, and optimize supply chain systems.
Baibu, apart from selling textiles and fabrics to businesses, also offers an enterprise resource planning (ERP) inventory management system to help buyers locate and purchase materials. The platform's image-based fabric search technology is 98% accurate, which helps businesses easily find the fabrics they want. Baibu also operates its own warehousing and logistics systems to help with fabric transit and storage.
In March 2016, the number of first-tier suppliers connected to the Baibu platform reached 3,000 merchants. Baibu has more than 2 mln product SKUs in its self-operated fabric information database, covering more than 80% of the domestic fabric market in China. The company previously said that it expected to cover 98% of Chinese fabric SKUs by the end of Q2 2016.
Editor's Note: For more information on this topic, please see "Self-operated Fabric B2B M-commerce App 'Baibu' Lands Series A+," MD 3/29/16 issue.
Keywords: VC Chengwei Capital Baibu B2B m-commerce funding wireless ERP Series B Zhijing e-commerce mobile application