Rural B2B E-commerce Platform 'Huitongda' Wins RMB 500 Mln Funding
Tencent Tech, 12/22/17
U.S.-China Green Fund announced today the completion of a RMB 500 mln investment in Jiangsu-based Huitongda Network Holdings, operator of rural-user-facing home appliance and equipment B2B e-commerce marketplace Huitongda. Under the theme of "Green Smart Rural," U.S.-China Green Fund and Huitongda will partner on green development of villages and precision poverty alleviation.
Huitongda, founded in 2010, has raised a total of RMB 1.8 bln across four rounds of funding from 2015 to today.
Huitongda has served nearly 50 mln rural households through 78,000 mom-and-pop shops in 15,600 townships across 18 provinces. Member store retail GMV has hit RMB 200 bln. Huitongda has been profitable every year since its founding and maintained an average annual growth rate of at least 60%.
U.S.-China Green Fund and Huitongda have already begun partnering on the promotion of distributed energy, new energy pick-up trucks, and green construction materials, according to U.S.-China Green Fund CEO Bai Bo. The next step is to promote village environmental management, green lifestyles, green farmhouses, and environmental agricultural.
Editor's Note: For more information on this topic, please see Rural B2B E-commerce Platform 'Huitongda' Raises RMB 300 Mln Funding, MD 6/28/16 issue.
Keywords: U.S.-China Green Fund VC B2B e-commerce Internet funding rural Huitongda Bai Bo agriculture
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