Business, Internet

Beijing Baby E-commerce Firm Raises More Cash

Maternity and baby products online shopping site Mia.com is adding equity to its coffers, according to Chinese media.

Mia.com's founder Liu Nan reportedly sent an internal memo to employees detailing the closing of the latest round and that the company is nearing over RMB1 billion in cash reserves, but he failed to provide details of the exact amount of funding raised.

Mia.com last raised US$150 million series D financing round led by Baidu Inc. in September 2015.

Before that, it raised US$60 million in series C round led by H Capital in December 2014, and US$20 million series B round led by Sequoia Capital in July that year.

Other early investors in the company include Zhen Fund and China Renaissance K2 Ventures.

Founded in 2011, Mia.com's e-commerce platforms offer flash sales and distribution of imported diapers and baby formula, as 70% of its products are imported from overseas.

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