Miyabaobei, a Chinese online portal for baby products has raised a USD 60 million Series C round from H Capital, with participation from other investors Sequoia Capital and ZhenFund. Miyabaobei’s future plan is to focus on its domestic market and over the next two months it plans to triple the number of brands on its platform.
As per a TechCrunch report, the raised fund will be used to improve its global supply chain and the user experience of its site and apps.
Earlier this year, it had secured a funding of USD 20M Series B round from Sequoia Capital.
Started in 2011 as a storefront on Taobao, Alibaba’s B2C marketplace, it is an e-commerce platform that provides products and goods for infant care. The store received more than 1,200 orders on a per day basis in 2013.
Miyabaobei’s selling brands include Merries, Moony, Aptamil, Nutrilon, Hipp, Mellin, and Earth’s Best. Its competitor in China is Ve.cn, which is also an e-commerce site. While India has its own set of Baby Products sites like BabyOye and FirstCry, and marketplaces having their own verticals for such products. In this latest edition of GOSF, after apparel and electronics, baby products was the most popular category bought online.