Xiaohui Cao

Partner

Cui Guangfu

Partner

Jun Fang

Partner

Mei Gao

Partner

Ning Kang

Managing Director

Jianguang Li

Venture Partner

Meng Lian

VP

Dongliang Lin

Partner

Yikun Liu

Partner

Michelle Ma

Partner

Kuiguang Niu

Partner

Hugo Shong

Founding Chairman

Chen Tong

Partner

Jeacy Yan

Partner

Jin Yu Ph.D

Partner

Antony Yung

Partner

Jianbin Zhang

Venture Partner

Suyang Zhang

Managing Partner

Haitao Zhang

Managing Director

Zhiyong Zhen

Principal

Quan Zhou

General Partner

Jian Zhu

Venture Partner

Fei Yang

Director of IPO Division

Past deals in E-commerce

Shumeiwuwu

Seed Round in 2025
Shumeiwuwu is a cross-border e-commerce company that provides quality goods and services to consumers through global shopping.

Dianzhuo

Seed Round in 2024
Dianzhuo is a digital retail company that specializes in providing international and imported electrical appliances.

Coin Mart

Seed Round in 2024
Coin Mart enables buying anything on Amazon with crypto stablecoins.

Shumeiwuwu

Seed Round in 2024
Shumeiwuwu is a cross-border e-commerce company that provides quality goods and services to consumers through global shopping.

Miracle Miles tech

Series A in 2022
Miracle Miles tech is a footwear and clothing enterprise that owns five independent brands.

Xingyun Digital Technology

Series A in 2022
Hangzhou Xingyun Digital Technology specializes in developing a SaaS platform focused on private domain intelligent marketing, primarily within the e-commerce retail sector. With nearly a decade of experience, the company aims to facilitate digital transformation for retail brands by leveraging the WeChat ecosystem. Its expertise in digital marketing is reflected in a suite of products, including a Customer Data Platform, Enterprise WeChat SCRM, and the DataMoore Big Data Development Platform. These tools create a comprehensive solution tailored to the specific needs of brands, allowing them to efficiently build and manage private domain traffic pools. By utilizing omnichannel data to analyze customer behavior, Xingyun Digital Technology helps merchants connect more effectively with users, ultimately enhancing traffic flow and increasing sales revenue.

Pupumall

Venture Round in 2021
Pupumall is an online platform based in Fuzhou, China, that specializes in the instant delivery of a wide array of food products. Founded in 2016, the company offers services that include fruits and vegetables, meat, poultry, dairy, seafood, grains, oils, beverages, snacks, and daily necessities. Pupumall enables individual customers to place grocery orders online, facilitating connections with local delivery riders for prompt service. This approach not only enhances the efficiency of warehousing and distribution for vendors but also provides convenience for consumers seeking quick and easy grocery shopping solutions.

OSUGA

Series A in 2021
Osuga is a sexual wellness brand.

Hutouju

Series A in 2021
Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.

Baman

Series C in 2021
Baman is a company based in China that specializes in producing and delivering packaged beef rice noodles. It operates a chain of offline restaurants focused on Hunan cuisine, with an emphasis on engaging the youth demographic. In addition to its restaurant operations, Baman offers retail, e-commerce, and catering services, aiming to preserve and promote the culinary traditions of Hunan among younger generations.

Doublefs

Series A in 2021
e-commerce fashion platform

Chehaoduo

Series E in 2021
Chehaoduo designs an online car trading platform that sells used cars. Its online car trading platform directly links individual car sellers and buyers, which help buyers remove the middlemen as well as purchase used cars easily. Haoyong Yang founded Chehaoduo in 2014, with its headquarters in Beijing in China, with branches in Chinese cities such as Hangzhou and Chongqing.

Cider

Series A in 2021
Cider is a direct-to-consumer (DTC) e-commerce platform focusing on overseas markets. Its innovative approach to building community, reducing inventory waste, and shipping anywhere has made it a new favorite for a generation of digitally native consumers. By integrating a pre-order option and educating the customer on the possibility of a zero-inventory future, Cider’s retail model is actively reducing the waste that often accompanies accessible fashion — without having to sacrifice affordability. It was founded in 2020 and is based in Hong Kong.

Star Charge

Series B in 2021
Star Charge specializes in the development and manufacturing of charging equipment specifically for new energy vehicles. The company serves a global clientele by providing comprehensive charging infrastructures, platforms, and data operations, leveraging Internet of Things technologies. Star Charge's offerings encompass various aspects of electric vehicle support, including vehicle sales, private and public charging solutions, and financial services. By focusing on these areas, the company aims to enhance energy efficiency, facilitate structural adjustments in energy utilization, promote energy conservation, and mitigate pollution emissions.

Firework

Series A in 2021
Firework provides video commerce solutions designed for websites, applications, and retail environments. The company operates a storytelling platform that facilitates live streaming videos directly on websites. This platform includes features such as in-video shopping, lead generation, and live-streaming events. Additionally, it allows brands to import and edit videos, enhancing their ability to engage and convert visitors on their websites. Through these offerings, Firework aims to enrich the online shopping experience and drive customer interaction.

WOW COLOUR

Series A in 2021
WOW COLOUR is a retailer specializing in beauty and personal care products, operating stores primarily in China. The company offers a diverse collection of cosmetics, including makeup, skincare, perfumes, and beauty tools, allowing customers to conveniently access a wide range of beauty brands in a single location. As a one-stop shop for beauty enthusiasts, WOW COLOUR aims to meet the varying needs of its clientele by providing a comprehensive selection of professional beauty products.

WeiPaiTang

Series B in 2021
Weipaitang is an eCommerce platform specializing in the auction of cultural and artistic goods, particularly focusing on wenwan artworks. The company has innovated the wenwan auction industry by introducing a live auction model, enabling users to trade antique artwork and paintings through live streaming. Weipaitang offers a diverse range of products, including calligraphy, tea wine tonic, jade jewelry, and sand ceramics, creating a convenient and efficient trading environment for buyers and collectors.

Hutouju

Seed Round in 2021
Hutouju is a Chinese dessert retailer that operates both retail locations and online stores. It offer customers tasty products with a Chinese style.

Bizongo

Series C in 2021
Bizongo is a tech-enabled B2B e-commerce and supply chain platform specializing in customized goods, including packaging, textiles, and apparel. Founded in 2015 by three IIT graduates, the company aims to digitize the fragmented B2B segment of made-to-order products. Bizongo offers a comprehensive suite of services such as digital vendor management, supply chain automation, and supply chain financing. Its platform connects businesses with a network of over 1,500 curated manufacturers, addressing key challenges like inventory management and operational efficiency. Through its innovative approach, Bizongo seeks to streamline the supply chain process, reduce costs, and facilitate easier contract management for its clients.

Dmall

Series C in 2020
Dmall, founded in 2015, specializes in providing a cloud-based, end-to-end SaaS platform tailored for the local retail industry. The company offers a comprehensive suite of services including retail core service cloud, e-commerce service cloud, and marketing and advertising service cloud, which enhance the operational, marketing, and sales capabilities of retailers and brand owners. Their platform integrates advanced software and artificial intelligence of things (AIoT) solutions, delivering holistic data insights that facilitate actionable improvements across retail operations. Dmall also features a fresh food e-commerce platform that allows customers to conveniently order fresh produce from nearby grocery stores online, bypassing traditional checkout lines. This digitalization empowers grocery stores with tools for digital marketing, order and stock management, and customer data analysis, thereby improving operational efficiency and reducing costs.

D2CMALL.COM

Series D in 2020
D2CMALL.COM is an e-commerce platform for fashion and beauty products. It combines trendy fashion, cutting-edge art, and personalized design, and it collects the most plentiful, novel, and high-quality women's clothing. Menswear, shoes, bags, and fashion accessories are all available. The official website offers private customized brands in addition to the limited pre-sale of designer products. The D2C designer integration store is now open throughout the country.

Cider

Angel Round in 2020
Cider is a direct-to-consumer (DTC) e-commerce platform focusing on overseas markets. Its innovative approach to building community, reducing inventory waste, and shipping anywhere has made it a new favorite for a generation of digitally native consumers. By integrating a pre-order option and educating the customer on the possibility of a zero-inventory future, Cider’s retail model is actively reducing the waste that often accompanies accessible fashion — without having to sacrifice affordability. It was founded in 2020 and is based in Hong Kong.

Quansu Zaixian

Angel Round in 2020
Quansu Zaixian is a China-based fast fashion export e-commerce brand.

Xiongmao Cake

Series A in 2020
Founded in Huizhou – a third-tier city in Guangdong Province– in 2017, Xiongmao Cake provides a cake baking and delivering service with an ‘online order + warehouse journey’ model. In less than two years, the business quickly spread to 10 second- and third-tier cities across Guangdong, Fujian and Sichuan provinces.

Zhizun Baowu

Series A in 2020
Zhizun Baowu specializes in blockchain traceability and digital collection services, focusing on the secure online management of physical collectibles. The company provides a mobile eCommerce platform that facilitates the identification, storage, and transaction of valuable items such as jade and tea sets. By integrating advanced technology, Zhizun Baowu enables seamless trading between businesses and collectors, ensuring a reliable and efficient marketplace for precious collectibles.

HyperSKU

Series A in 2020
HyperSKU is a dropshipping supplier that provides a comprehensive online platform designed to assist dropshippers and small to medium-sized businesses in scaling their eCommerce operations. The company offers a diverse range of products, including women’s clothing, pet supplies, consumer electronics, health and beauty items, as well as home and kitchen goods. HyperSKU's platform features a dynamic supplier database, real-time synchronization with clients' stores, and affordable express international shipping. These solutions enable users to efficiently source products, fulfill orders quickly, and deliver packages reliably to customers worldwide. In addition, HyperSKU supports services such as customization, private labeling, and warehouse kitchens to enhance the overall dropshipping experience.

Freemud

Series B in 2019
Freemud is a smart retail operation platform that specializes in digital payment solutions for various sectors, including catering, convenience stores, and retail. The company provides a low-code, low-cost platform for developing customized, cloud-native digital applications, enabling businesses to enhance the management of member assets throughout the entire member life cycle. Freemud's offerings allow customers to streamline payment processing, update deals, and connect with third-party services, thereby improving the overall consumption experience and increasing customer loyalty. By focusing on tailored solutions, Freemud aims to add significant value to merchants across diverse industries.

Fapiaoer

Series B in 2019
Fapiaoer is a Chinese electronic invoicing service provider under Tencent-backed Chinese project incubator and group-buying platform GaoPeng. Based on a variety of business success stories, with a strong operating, technical, product team, Gao Peng internal restructuring team to provide electronic invoicing services in an effort to create the most convenient and most reasonable electronic invoice preparation, preservation, and reimbursement experience for users. , Tencent and U.S. GROUPON Each group invested 50 million U.S. dollars to develop a group purchasing business company to become: Wechat commercialization project incubation platform, Tencent eco-layout early investment platform, Group purchasing model integration optimization of new e-commerce platform and other three business lines go hand in hand with diversified technology The company, currently Tencent, is the single largest shareholder of Gao Peng.

Club Factory

Series D in 2019
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

Plum

Series B in 2019
Plum is an e-commerce platform for second-hand fashion products. It works as a one-stop consignment service platform that provides filming, sales, customer service, sale, and a full set of consignment services.

Webuy Group

Series C in 2019
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

Yicang Youpin

Angel Round in 2019
Henan Yicang Youpin Department Store Co., Ltd. is a Chinese retailer that specializes in the online sale of various apparel brands, including clothing, footwear, and children's wear. Established in 2016, the company focuses on promoting domestic brands and operates under a multi-brand strategy that integrates both physical and online retail channels. Its business model emphasizes a new retail format, linking stores with e-commerce to foster a consumer ecosystem. With its headquarters in Xinxiang, Yicang Youpin aims to expand its reach across the country, particularly in third- and fourth-tier cities, through franchise brand collection discount stores and centralized sales strategies. The company supports small local businesses by providing low-cost entry points for aspiring entrepreneurs to launch their own apparel shops, thereby enhancing consumer choices and driving brand promotion.

T11 Food Market

Series A in 2019
T11 Food Market operates a retail supermarket that focuses on providing fresh groceries through both an online platform and physical stores. The company utilizes smart retail technology to enhance its supply chain operations, ensuring that customers receive high-quality, fresh products. This approach not only emphasizes food safety but also promotes efficiency in the shopping experience, catering to the needs of consumers seeking reliable grocery options.

RentoMojo

Series C in 2019
RentoMojo is an online furniture and appliance rental platform founded in November 2014 by Geetansh Bamania in India. The company operates in several major cities, including Bangalore, Pune, Mumbai, Hyderabad, Chennai, Delhi, Gurgaon, and Noida. RentoMojo offers a convenient solution for young professionals and others living in rental properties, allowing them to rent furniture, home appliances, and electronics on a monthly basis. This model enables customers, especially those who frequently relocate, to avoid the hassle of buying and selling durable goods, providing a flexible and cost-effective alternative for furnishing their living spaces.

Beidian

Series A in 2019
Beidian operates as an innovative e-commerce platform that connects consumers, shop owners, and suppliers, offering a diverse range of products including home goods, clothing, food, beauty items, and products for mothers and babies. Unlike traditional e-commerce platforms, Beidian emphasizes social sharing among users, fostering a three-way connection that enhances the shopping experience. The company adheres to a source supply chain model, collaborating closely with numerous high-quality brands, source factories, and agricultural bases worldwide. This approach ensures that consumers have access to premium products at competitive prices, allowing them to purchase better goods while spending less.

Firework

Series A in 2019
Firework provides video commerce solutions designed for websites, applications, and retail environments. The company operates a storytelling platform that facilitates live streaming videos directly on websites. This platform includes features such as in-video shopping, lead generation, and live-streaming events. Additionally, it allows brands to import and edit videos, enhancing their ability to engage and convert visitors on their websites. Through these offerings, Firework aims to enrich the online shopping experience and drive customer interaction.

Jijixian

Series A in 2019
Jijixian is a company based in Wuhan, China, that specializes in fresh produce e-commerce and delivery services. It provides an online platform for customers to purchase a wide variety of grocery items, including fruits, vegetables, meat, eggs, seafood, grains, and seasonings. The company is known for its efficient 30-minute delivery service, ensuring that customers receive their orders promptly. By focusing on the fresh food market, Jijixian aims to meet the growing demand for convenient and high-quality grocery shopping options.

Shuashuakan

Angel Round in 2019
Beijing Shuashuakan Network Technology Co., Ltd. is a company that operates a short-video e-commerce application designed for users to engage in shopping experiences through video content. Founded in 2018 and based in Beijing, China, the platform allows users to share their shopping experiences, view short videos created by others, and interact through comments. This consumer experience video platform combines elements of social interaction with e-commerce, facilitating a community-driven approach to online shopping.

Songshu Pinpin

Series B in 2019
Songshu Pinpin is an e-commerce platform focused on group buying, primarily utilizing the WeChat app to facilitate community-based orders. The platform provides high-quality daily necessities at competitive prices, catering to families in various communities. By allowing users to place orders collectively, Songshu Pinpin simplifies the purchasing process and enhances the shopping experience. Orders are processed efficiently and delivered to designated pick-up locations within the community, ensuring convenience for users.

Jusda

Series A in 2019
Jusda International Supply Chain Management Co., Ltd., founded in 2000 and based in Shenzhen, China, specializes in providing comprehensive supply chain management services. The company serves as a platform for freight and logistics solutions, including e-commerce supply chain services on an international scale. As a key service provider for Foxconn Technology Group, Jusda is focused on enhancing the efficiency and professionalism of supply chain management through advanced technology and research and development. Its innovative business model integrates multiple flows—trading, goods, information, capital, technology, and processes—aiming to streamline operations and drive growth within the supply chain sector.

DealeXtreme

Series A in 2019
DX is a consumer e-commerce retailer that sells its products through website. Their product categories such as phones, accessories, consumer electronics, computers, office products, automobiles, motorcycles, electrical products, tools, lights, home products, garden products, sports, outdoor, apparel, watches, security, appliances, beauty products, health products, shoes, bags, and hairs extensions.

Freemud

Series A in 2018
Freemud is a smart retail operation platform that specializes in digital payment solutions for various sectors, including catering, convenience stores, and retail. The company provides a low-code, low-cost platform for developing customized, cloud-native digital applications, enabling businesses to enhance the management of member assets throughout the entire member life cycle. Freemud's offerings allow customers to streamline payment processing, update deals, and connect with third-party services, thereby improving the overall consumption experience and increasing customer loyalty. By focusing on tailored solutions, Freemud aims to add significant value to merchants across diverse industries.

Songshu Pinpin

Series A in 2018
Songshu Pinpin is an e-commerce platform focused on group buying, primarily utilizing the WeChat app to facilitate community-based orders. The platform provides high-quality daily necessities at competitive prices, catering to families in various communities. By allowing users to place orders collectively, Songshu Pinpin simplifies the purchasing process and enhances the shopping experience. Orders are processed efficiently and delivered to designated pick-up locations within the community, ensuring convenience for users.

Haoyiku

Series B in 2018
Haoyiku is a community-based e-commerce platform founded in 2017 by Qiangqiang Wu and based in Hangzhou. The company focuses on apparel and employs a unique S2b2C model, connecting suppliers, businesses, and consumers. By leveraging social networks and the WeChat app, Haoyiku facilitates a seamless shopping experience that includes rapid payment settlements and enhanced customer outreach. This model not only allows partner brands to efficiently off-load inventory but also enables individual merchants to sell products within their social circles, contributing to a low return rate and ongoing business improvement through training and support.

Webuy Group

Series B in 2018
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

Akulaku

Series C in 2018
Akulaku Inc. is a prominent banking and digital finance platform headquartered in Jakarta, Indonesia, founded in 2016. It operates across Southeast Asia, including Indonesia, the Philippines, and Malaysia, focusing on meeting the financial needs of underserved customers in emerging markets. The company provides a variety of services, including digital banking, financing, investment, and insurance brokerage. Its offerings feature a virtual credit card, an e-commerce platform, and Asetku, an online wealth management service. Additionally, Akulaku has launched Neobank, a mobile digital bank supported by Bank Neo Commerce. The company aims to serve 50 million users in Southeast Asia by 2025, facilitating a range of financial transactions, from mobile top-ups to installment shopping, thereby enhancing the shopping experience for its users.

Letus Legend

Series B in 2018
Letus Legend operates a chain of supermarkets in Hefei, China, specializing in the sale of fresh food and a variety of kitchen supplies. Founded in 2015, the company offers an extensive range of products, including snack foods, grains, oils, health care items, cleaning supplies, household goods, and stationery. In addition to its physical stores, Letus Legend has developed a mobile application that facilitates online shopping and provides home delivery services to enhance customer convenience.

T11 Food Market

Angel Round in 2018
T11 Food Market operates a retail supermarket that focuses on providing fresh groceries through both an online platform and physical stores. The company utilizes smart retail technology to enhance its supply chain operations, ensuring that customers receive high-quality, fresh products. This approach not only emphasizes food safety but also promotes efficiency in the shopping experience, catering to the needs of consumers seeking reliable grocery options.

VETRESKA

Series A in 2018
VETRESKA is a brand established in 2017 that focuses on creating innovative and stylish pet products for dogs and cats. The company specializes in unique supplies, toys, and accessories designed to enhance the lives of pets and their owners. VETRESKA emphasizes quality craftsmanship and clever design, ensuring that their products combine fun and functionality. The brand aims to inspire pet lovers by offering items that reflect their lifestyles while enabling pets to live healthier and more contented lives. Through its creative approach, VETRESKA seeks to redefine the pet product experience, making it both enjoyable and practical for consumers.

VETRESKA

Series A in 2018
VETRESKA is a brand established in 2017 that focuses on creating innovative and stylish pet products for dogs and cats. The company specializes in unique supplies, toys, and accessories designed to enhance the lives of pets and their owners. VETRESKA emphasizes quality craftsmanship and clever design, ensuring that their products combine fun and functionality. The brand aims to inspire pet lovers by offering items that reflect their lifestyles while enabling pets to live healthier and more contented lives. Through its creative approach, VETRESKA seeks to redefine the pet product experience, making it both enjoyable and practical for consumers.

Dudao Keji

Angel Round in 2018
Doodod solution for general industry, channel retail, branded retail, commercial real estate, financial banking, and community e-commerce. The company is focusing on the field of big data and social consumption scenarios.

Firework

Series A in 2018
Firework provides video commerce solutions designed for websites, applications, and retail environments. The company operates a storytelling platform that facilitates live streaming videos directly on websites. This platform includes features such as in-video shopping, lead generation, and live-streaming events. Additionally, it allows brands to import and edit videos, enhancing their ability to engage and convert visitors on their websites. Through these offerings, Firework aims to enrich the online shopping experience and drive customer interaction.

MagMode

Series C in 2018
MagMode is a men's fashion brand incubator. The company has opened three stores in Beijing, and plans to open more in other major cities in China. It also operates a mobile app featuring the latest international fashion trends and concepts. Initiated by editor-in-chief of the world’s top fashion magazine, fashion director, writer and artist, Magmode collaborates each season with fashion publishers, artists and designers from fashion’s origins including Europe and Japan in order to find and select the most promising designers of the season. Given proper consideration to subtle details, each collection is tailored to best fit Asian figures. By offering a cultural initiative to discuss possibilities of life, Magmode redefines fashion boutique through various means including workshops, photos, videos and publications, with absolute dedication to become an incubator and advocate for fashion and culture. Founded in 2015 by Cai Chongda, the company is headquartered in Minhang, Shanghai, China.

iQiyi Sports

Series A in 2018
iQIYI Sports operates under iQIYI, a leading video and entertainment service provider in China, established in 2010. The company focuses on delivering a high-quality online video experience, and has diversified its business model to include various services beyond entertainment. iQIYI Sports specifically engages in sports-related content and live streaming, catering to the interests of sports fans. The platform emphasizes innovations in technology and content delivery, ensuring users have access to a rich and smooth viewing experience. By integrating e-commerce and interactive features, iQIYI Sports aims to enhance user engagement and expand its reach within the sports entertainment sector.

Meiwo

Series A in 2018
Meiwo is a real estate company that operates an online shopping platform focused on furniture and home decor products. Through its website, Meiwo provides a wide range of items, including home textiles, furniture, lighting fixtures, and other decorative elements, facilitating convenient online shopping for customers. In addition to its online presence, the company maintains 40 offline stores, catering to consumers who prefer to shop in person. This dual approach allows Meiwo to meet diverse customer preferences in home decorating and furnishing needs.

Haoyiku

Series B in 2018
Haoyiku is a community-based e-commerce platform founded in 2017 by Qiangqiang Wu and based in Hangzhou. The company focuses on apparel and employs a unique S2b2C model, connecting suppliers, businesses, and consumers. By leveraging social networks and the WeChat app, Haoyiku facilitates a seamless shopping experience that includes rapid payment settlements and enhanced customer outreach. This model not only allows partner brands to efficiently off-load inventory but also enables individual merchants to sell products within their social circles, contributing to a low return rate and ongoing business improvement through training and support.

Opera Software AS

Post in 2018
Opera is a global web innovator with an engaged and growing base of hundreds of millions of monthly active users who seek a better internet experience. Building on over 25 years of innovation that started with browser products, Opera is now leveraging its brand and highly engaged user base in order to expand its business into new segments. Today, Opera offers users around the world a range of products and services that include PC and mobile browsers, the newsreader Opera News, and apps dedicated to gaming, crypto, e-commerce and classifieds. Opera Software AS was established in 1995 by Jon S. von Tetzchner in Oslo, Norway.

V Xiaoke

Series A in 2018
E-commerce

Webuy Group

Series B in 2018
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

Haoyiku

Series A in 2018
Haoyiku is a community-based e-commerce platform founded in 2017 by Qiangqiang Wu and based in Hangzhou. The company focuses on apparel and employs a unique S2b2C model, connecting suppliers, businesses, and consumers. By leveraging social networks and the WeChat app, Haoyiku facilitates a seamless shopping experience that includes rapid payment settlements and enhanced customer outreach. This model not only allows partner brands to efficiently off-load inventory but also enables individual merchants to sell products within their social circles, contributing to a low return rate and ongoing business improvement through training and support.

Webuy Group

Series A in 2018
Webuy Group, established in 2017 and headquartered in Hangzhou, China, operates as a community-based e-commerce platform focused on apparel. The company owns several brands, including Shaking Baby and Haoyiku. Webuy Group utilizes a social e-commerce model that connects consumers with brands through WeChat, China's leading social media application. This platform allows merchants to share product links directly within their social networks, facilitating immediate purchases. By leveraging trust built through these networks, Webuy Group enhances customer engagement and offers features such as quick payment settlements and low return rates. Additionally, the company provides ongoing training to support business improvement, helping partner brands manage inventory effectively while enabling individual merchants to reach their customers more efficiently.

ZaiLouXia

Series A in 2018
Beijing Zailouxia Technology Co., Ltd. specializes in the operation of unmanned convenience stores and public refrigerators, focusing on enhancing access to fresh food products. The company provides a self-service shopping experience that allows customers to conveniently purchase snacks, fresh produce, and groceries. By implementing a reliable food supply chain, Zailouxia aims to improve community security and reduce costs associated with delivery and packaging. This innovative approach not only caters to consumer needs but also supports the overall livelihood of the community by making fresh food more accessible.

ezbuy Holdings

Series C in 2018
Ezbuy Holdings Limited, founded in 2010 and based in Singapore, operates a leading online marketplace specializing in a diverse range of products, including apparel, home furnishings, electronics, and beauty items. As a prominent player in cross-border e-commerce in Southeast Asia, ezbuy connects consumers to various brands and sellers from countries such as China, the USA, Korea, and Taiwan, while also facilitating access to popular online sites like Taobao and Amazon. The platform emphasizes service excellence and convenience, offering features like a subscription service for affordable shipping, product reviews for informed purchasing, and same-day delivery options. Additionally, ezbuy collaborates with local retail shops to enhance parcel collection services. Currently, it operates in Singapore, Malaysia, Thailand, and Indonesia, striving to provide an efficient and cost-effective online shopping experience for its customers.

Circle

Series E in 2018
Circle is a financial technology firm established in 2013 by Jeremy Allaire and Sean Neville, headquartered in Boston, with additional offices in New York, San Francisco, Dublin, London, and Hong Kong. The company leverages blockchain technology to facilitate payments and e-commerce through stablecoins and its Circle Pay platform, streamlining the process of sending money. Circle offers a range of services, including Circle Invest, which allows users to buy and sell cryptocurrency assets, and Circle Trade, which provides over-the-counter trading services with access to one of the largest global liquidity pools for digital asset trading, averaging $2 billion in monthly volume. Backed by prominent investors such as Goldman Sachs and Accel Partners, Circle positions itself as a key player in the global internet finance sector, focused on integrating crypto assets into mainstream financial applications.

PatPat

Series C in 2018
PatPat is an online shopping platform tailored for mothers, providing significant discounts on a variety of products for babies, infants, toddlers, children, and maternity needs. The app features daily deals that can reach discounts of 50-90%, with some items available for free. By maintaining strong relationships with manufacturers, PatPat ensures competitive pricing and a diverse selection of products. The platform makes it easier for mothers to shop efficiently and economically, with new promotional events launching every day at 6am PST.

Xian Lai Duo

Series A in 2018
E-commerce

SEE Xiaodianpu

Series C in 2018
SEE Xiaodiaopu is a content commercialization alliance and small program e-commerce SaaS service platform. SEE helps thousands of people create "small program stores" and establishes a channel for the brand to enter WeChat and reach new users. SEE also helps with brand sales and reputation through content communication and marketing. SEE has partnered with more than 1000 brands, covering beauty, home, snacks, fashion, and curriculum categories. In addition, SEE has established exclusive cooperation with dozens of WeChat brands.

V Xiaoke

Angel Round in 2018
E-commerce

Mili Shenghuo

Angel Round in 2018
Mili Shenghuo is a developer of an e-commerce platform designed to let offline stores to create their online stores.

CargoGM

Seed Round in 2018
CargoGM is a big retailer's integrated logistics management system. They provide upstream and downstream enterprises with intelligent SaaS software based on cloud computing, big data, and mobile Internet technology, as well as online logistics resource transaction services.

Xianshiji

Series B in 2018
Xianshiji is an e-commerce platform.

Club Factory

Series C in 2018
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

T She Dingzhi

Series A in 2018
T She Dingzhi offers a platform for clothes design. Their business enables additional, fully-customizable t-shirts, hoodies, and sweaters to its clients. Through responsible, managed services, subscription cultural apparel, and other means, they are dedicated to assisting businesses in improving their services. It adapts and pursues accuracy and exquisite, repeatedly setting the bar for the sector.

Ping An Good Doctor

Series F in 2018
Ping An Health Internet is a wholly owned subsidiary of China Ping An Group, an important member of the Internet business segment/. It was established in August 2014 with 350 million yuan registered capital and is headquartered in Shanghai, China. Companies around the network of doctors, drug network and information network formed three product lines, involving online inquiry, a plurality of segments of the doctor-patient health care management, drug O2O, electronic health records, chronic disease management, child health services. Chinese company to the mobile Internet era medical wisdom of the leader as the goal, to create a user-stop health management solutions provider, China's largest Internet to build a healthy industry ecosystem. Ping An Health Internet also developed a children's health management and chronic disease management, and other vertical applications, to meet the needs of market segments. Reform the health care system combined with the trend, the company vigorously promote the integration of physician resources.

Fapiaoer

Series A in 2018
Fapiaoer is a Chinese electronic invoicing service provider under Tencent-backed Chinese project incubator and group-buying platform GaoPeng. Based on a variety of business success stories, with a strong operating, technical, product team, Gao Peng internal restructuring team to provide electronic invoicing services in an effort to create the most convenient and most reasonable electronic invoice preparation, preservation, and reimbursement experience for users. , Tencent and U.S. GROUPON Each group invested 50 million U.S. dollars to develop a group purchasing business company to become: Wechat commercialization project incubation platform, Tencent eco-layout early investment platform, Group purchasing model integration optimization of new e-commerce platform and other three business lines go hand in hand with diversified technology The company, currently Tencent, is the single largest shareholder of Gao Peng.

Chehaoduo

Series C in 2018
Chehaoduo designs an online car trading platform that sells used cars. Its online car trading platform directly links individual car sellers and buyers, which help buyers remove the middlemen as well as purchase used cars easily. Haoyong Yang founded Chehaoduo in 2014, with its headquarters in Beijing in China, with branches in Chinese cities such as Hangzhou and Chongqing.

Songxiaocai

Series B in 2018
Songxiaocai is a mobile Internet platform that facilitates the trading of agricultural products through an online B2B marketplace. It provides a range of services, including vegetable picking, distribution, and after-sales support, specifically tailored for small and medium-sized retailers. By offering comprehensive solutions that encompass information retrieval, purchasing, and efficient distribution, Songxiaocai enables farmers, wholesalers, and retailers to conduct their business operations more effectively.

Meituan

Series F in 2017
Meituan, established in 2010 and headquartered in Beijing, China, operates a comprehensive online platform offering retail and group buying services. It specializes in delivering Chinese food from local restaurants and provides online group discounts for a wide range of sectors, including movies, groceries, restaurants, entertainment, and health/fitness. As of 2020, Meituan holds a dominant 70.7% share in China's food delivery market. Its revenue streams are primarily derived from on-demand services (58%), hotel booking, coupon sales, and advertising (17%), with new initiatives contributing the remaining 25%. These new initiatives, such as community group buying and non-food delivery, are poised to transform Meituan into a broader grocer and logistics business, potentially surpassing food delivery as its primary focus.

Plum

Series A in 2017
Plum is an e-commerce platform for second-hand fashion products. It works as a one-stop consignment service platform that provides filming, sales, customer service, sale, and a full set of consignment services.

Epet.com

Series B in 2017
Epet is a chinese e-commerce platform that sells pet-related food products and other services.

RentoMojo

Series B in 2017
RentoMojo is an online furniture and appliance rental platform founded in November 2014 by Geetansh Bamania in India. The company operates in several major cities, including Bangalore, Pune, Mumbai, Hyderabad, Chennai, Delhi, Gurgaon, and Noida. RentoMojo offers a convenient solution for young professionals and others living in rental properties, allowing them to rent furniture, home appliances, and electronics on a monthly basis. This model enables customers, especially those who frequently relocate, to avoid the hassle of buying and selling durable goods, providing a flexible and cost-effective alternative for furnishing their living spaces.

Lianshang

Series C in 2017
Lianshang operates an online platform dedicated to fabric trading, primarily serving the business-to-business market. This platform allows fabric manufacturers to bid for orders, facilitating a direct connection between producers and customers. It offers a range of services, including fabric purchasing, inspection and testing, and logistics support. Additionally, Lianshang's platform features a mobile application that can identify fabric colors and streamline the ordering process, enabling customers to purchase fabrics directly from manufacturers.

Akulaku

Series B in 2017
Akulaku Inc. is a prominent banking and digital finance platform headquartered in Jakarta, Indonesia, founded in 2016. It operates across Southeast Asia, including Indonesia, the Philippines, and Malaysia, focusing on meeting the financial needs of underserved customers in emerging markets. The company provides a variety of services, including digital banking, financing, investment, and insurance brokerage. Its offerings feature a virtual credit card, an e-commerce platform, and Asetku, an online wealth management service. Additionally, Akulaku has launched Neobank, a mobile digital bank supported by Bank Neo Commerce. The company aims to serve 50 million users in Southeast Asia by 2025, facilitating a range of financial transactions, from mobile top-ups to installment shopping, thereby enhancing the shopping experience for its users.

Zaozuo

Series B in 2017
Zaozuo is a Chinese company that specializes in the design and manufacture of modern furniture products. Its offerings include a range of items such as mattresses, minimalist beds, and smart electric beds. In addition to furniture, Zaozuo provides log wall hanging boxes and facilitates online shopping and delivery services, enhancing the overall customer experience. The company aims to improve the creativity and quality of household furniture, catering to a diverse clientele looking for contemporary design solutions.

MagMode

Series B in 2017
MagMode is a men's fashion brand incubator. The company has opened three stores in Beijing, and plans to open more in other major cities in China. It also operates a mobile app featuring the latest international fashion trends and concepts. Initiated by editor-in-chief of the world’s top fashion magazine, fashion director, writer and artist, Magmode collaborates each season with fashion publishers, artists and designers from fashion’s origins including Europe and Japan in order to find and select the most promising designers of the season. Given proper consideration to subtle details, each collection is tailored to best fit Asian figures. By offering a cultural initiative to discuss possibilities of life, Magmode redefines fashion boutique through various means including workshops, photos, videos and publications, with absolute dedication to become an incubator and advocate for fashion and culture. Founded in 2015 by Cai Chongda, the company is headquartered in Minhang, Shanghai, China.

Xiaolu Clinic

Series B in 2017
Xiaolu Clinic is an online platform that connects consumers with providers of traditional Chinese medicine. Founded in 2016 and based in Beijing, the clinic offers consultancy services for patients dealing with chronic diseases and sub-optimal health, utilizing herbal remedies and dietary enhancements typical of traditional Chinese practices. Users can receive evaluations from qualified traditional Chinese medicine doctors, purchase herbal products online, and benefit from treatment monitoring and post-treatment analysis. Additionally, Xiaolu Clinic provides health management services to employees of major corporations, facilitating better health outcomes through its innovative medical platform. This platform also enhances communication between patients, health professionals, and hospitals, improving the overall efficiency of medical information exchange.

Dmall

Series A in 2017
Dmall, founded in 2015, specializes in providing a cloud-based, end-to-end SaaS platform tailored for the local retail industry. The company offers a comprehensive suite of services including retail core service cloud, e-commerce service cloud, and marketing and advertising service cloud, which enhance the operational, marketing, and sales capabilities of retailers and brand owners. Their platform integrates advanced software and artificial intelligence of things (AIoT) solutions, delivering holistic data insights that facilitate actionable improvements across retail operations. Dmall also features a fresh food e-commerce platform that allows customers to conveniently order fresh produce from nearby grocery stores online, bypassing traditional checkout lines. This digitalization empowers grocery stores with tools for digital marketing, order and stock management, and customer data analysis, thereby improving operational efficiency and reducing costs.

Akulaku

Series A in 2017
Akulaku Inc. is a prominent banking and digital finance platform headquartered in Jakarta, Indonesia, founded in 2016. It operates across Southeast Asia, including Indonesia, the Philippines, and Malaysia, focusing on meeting the financial needs of underserved customers in emerging markets. The company provides a variety of services, including digital banking, financing, investment, and insurance brokerage. Its offerings feature a virtual credit card, an e-commerce platform, and Asetku, an online wealth management service. Additionally, Akulaku has launched Neobank, a mobile digital bank supported by Bank Neo Commerce. The company aims to serve 50 million users in Southeast Asia by 2025, facilitating a range of financial transactions, from mobile top-ups to installment shopping, thereby enhancing the shopping experience for its users.

PipeCandy

Seed Round in 2017
PipeCandy Inc. is a predictive sales prospecting platform focused on business-to-business sales. The company offers a comprehensive solution that enables sales representatives to identify potential clients by providing curated lead lists and company research through algorithms and predictive analytics. The PipeCandy platform delivers insights into various aspects of eCommerce, including business models, customer experience, and shipping strategies, helping users predict key inflection points in their markets. This intelligence supports marketing, sales, investment, and corporate strategy decisions for large enterprises engaged in eCommerce. Founded in 2015 and headquartered in Mountain View, California, PipeCandy serves a diverse clientele, including retail, eCommerce, SaaS, and mobile organizations globally.

iQIYI

Series G in 2017
iQIYI, Inc. is a prominent online entertainment platform in China, offering a wide range of services including internet video streaming, online gaming, live broadcasting, online literature, and e-commerce. Established in 2009 and headquartered in Beijing, the company operates under the iQIYI brand and has developed a comprehensive library of licensed and self-produced content across various genres such as movies, TV dramas, and animations. iQIYI generates revenue primarily through subscription services, boasting around 100 million paying subscribers and 500 million monthly active users. Additionally, the platform monetizes user-generated content through advertising, while also engaging in e-commerce via the iQIYI Mall, which specializes in entertainment-related merchandise. The company has diversified its offerings to include a live broadcasting service and a social media platform focused on entertainment. iQIYI faces competition from other streaming services such as Tencent Video and Alibaba's Youku, positioning itself as a leader in the rapidly evolving digital media landscape in China.

Akulaku

Series A in 2017
Akulaku Inc. is a prominent banking and digital finance platform headquartered in Jakarta, Indonesia, founded in 2016. It operates across Southeast Asia, including Indonesia, the Philippines, and Malaysia, focusing on meeting the financial needs of underserved customers in emerging markets. The company provides a variety of services, including digital banking, financing, investment, and insurance brokerage. Its offerings feature a virtual credit card, an e-commerce platform, and Asetku, an online wealth management service. Additionally, Akulaku has launched Neobank, a mobile digital bank supported by Bank Neo Commerce. The company aims to serve 50 million users in Southeast Asia by 2025, facilitating a range of financial transactions, from mobile top-ups to installment shopping, thereby enhancing the shopping experience for its users.

Club Factory

Series B in 2017
Club Factory operates an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. The company utilizes big data and artificial intelligence to scan the internet for factories selling products on major platforms like Wish, eBay, and Amazon, allowing it to compare prices from multiple sources. This approach enables Club Factory to present customers with the most competitive pricing options. In addition to enhancing the shopping experience for consumers, the platform also offers supply chain management solutions for enterprises, thereby streamlining the process of purchasing goods at lower prices.

Hunan Ocean Wing

Series A in 2016
Hunan Ocean Wing E-Commerce is a Chinese company that is a big seller of portable chargers on Amazon.com Inc. sites around the world has attracted a new infusion of capital. The company is best known for its Anker brand of portable chargers and other electronics products. The company was founded in 2011 by Steven Yang, a former Google Inc. engineer.

MagMode

Series A in 2016
MagMode is a men's fashion brand incubator. The company has opened three stores in Beijing, and plans to open more in other major cities in China. It also operates a mobile app featuring the latest international fashion trends and concepts. Initiated by editor-in-chief of the world’s top fashion magazine, fashion director, writer and artist, Magmode collaborates each season with fashion publishers, artists and designers from fashion’s origins including Europe and Japan in order to find and select the most promising designers of the season. Given proper consideration to subtle details, each collection is tailored to best fit Asian figures. By offering a cultural initiative to discuss possibilities of life, Magmode redefines fashion boutique through various means including workshops, photos, videos and publications, with absolute dedication to become an incubator and advocate for fashion and culture. Founded in 2015 by Cai Chongda, the company is headquartered in Minhang, Shanghai, China.

Infisecure Technologies

Seed Round in 2016
InfiSecure Technologies Private Limited operates a web security platform aimed at combating online bots and various security threats. Founded in 2016 and based in Mumbai, India, the company offers its flagship product, InfiSecure, which enables online businesses to effectively manage bot traffic and safeguard against issues such as content theft, hacking attempts, web scraping, price scraping, account hijacking, and fraud. The platform serves a diverse range of industries, including e-commerce, travel, online media, real estate, and financial services. InfiSecure Technologies focuses on allowing businesses to harness the benefits of the internet without facing significant risks or compromises. As of August 2019, the company functions as a subsidiary of Barracuda Networks, Inc.

Bizongo

Series A in 2016
Bizongo is a tech-enabled B2B e-commerce and supply chain platform specializing in customized goods, including packaging, textiles, and apparel. Founded in 2015 by three IIT graduates, the company aims to digitize the fragmented B2B segment of made-to-order products. Bizongo offers a comprehensive suite of services such as digital vendor management, supply chain automation, and supply chain financing. Its platform connects businesses with a network of over 1,500 curated manufacturers, addressing key challenges like inventory management and operational efficiency. Through its innovative approach, Bizongo seeks to streamline the supply chain process, reduce costs, and facilitate easier contract management for its clients.

Songshu Pinpin

Seed Round in 2016
Songshu Pinpin is an e-commerce platform focused on group buying, primarily utilizing the WeChat app to facilitate community-based orders. The platform provides high-quality daily necessities at competitive prices, catering to families in various communities. By allowing users to place orders collectively, Songshu Pinpin simplifies the purchasing process and enhances the shopping experience. Orders are processed efficiently and delivered to designated pick-up locations within the community, ensuring convenience for users.

Daling

Series C in 2016
Daling owns and operates mobile shopping application. The company is based in Beijing, China.

Yujia

Series B in 2016
Yujia is a content industry. They provide chain value empowerment services for entertainment live broadcasts, e-commerce live broadcasts, business cooperation, new media marketing, etc., and customize product-effect integration solutions for brands. They are aiming to become China's provider of Internet celebrity empowerment services.

PDD Holdings

Series B in 2016
PDD Holdings (Nasdaq: PDD) is a multinational commerce group that owns and operates a portfolio of businesses. PDD Holdings aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities. PDD Holdings has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.
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