ZhenFund

ZhenFund is a Beijing-based venture capital firm focused on seed and early-stage investments in China. It was founded in 2011 by entrepreneurs Bob Xiaoping Xu and Victor Qiang Wang in collaboration with Sequoia Capital China. The firm backs a broad range of sectors including e-commerce, consumer, education, artificial intelligence, enterprise services, mobile internet, media, entertainment, sports, virtual reality, fintech, and healthcare. ZhenFund supports its portfolio companies with mentorship and resources such as biannual demo days for top Chinese VCs, ZhenHR services, marketing and PR consulting, and fundraising assistance, complemented by a large CEO network facilitated through a WeChat platform. It maintains a sizable portfolio network with hundreds of companies and more than 30 unicorns, and has been recognized as a leading early-stage investor in China for multiple years.

Yusen Dai

Managing Partner

Grace Gu

Principal and Head of Eastern China

Li Yi

Investment Associate

Yuan Liu

Partner

Tianyi Qin

Principal

Past deals in Shopping

Snowplus

Series C in 2020
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

Snowplus

Series C in 2020
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

Wanwu Dezhi

Series B in 2019
The Wanwu Dezhi app is an e-commerce platform that offers a wide range of mobile Internet services, including Wenwan handicraft transactions, expert online treasure appraisal, and the Guofeng life community. It is dedicated to breaking down industry barriers and using the transparency of the Internet to establish and improve industry standards and efficiency. It provides users with cost-effective and high-quality cultural and entertainment products and a high-quality shopping experience through its three core services of live streaming, bidding, and one-price (distribution), while also providing a large number of commodities and a convenient online trading platform for merchants to buy and sell goods.

Snowplus

Series B in 2019
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

Snowplus

Series B in 2019
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

Xiaoqule

Series A in 2018
Xiaoqule is a community-focused e-commerce platform headquartered in Hangzhou, China, and operates as a subsidiary of Zhejiang Gejia Network Technology Co., Ltd. The company connects local businesses with consumers, enabling the provision of cost-effective products and services tailored to community needs. Through its platform, users can order a variety of items, including seasonal fruits, vegetables, and imported snacks, while also benefiting from group ordering options. Xiaoqule emphasizes convenience by shortening transportation times and ensuring the quality of goods. Additionally, the platform offers logistical support, encompassing transportation, technology, marketing, and customer service, thereby facilitating interactions within the community and enhancing the overall shopping experience.

Global Scanner

Series A in 2018
Global Scanner is a social e-commerce platform targeting the middle-class in China.

Garden Lis

Angel Round in 2018
Garden Lis is a fashion apparel company specializing in the design, production, and sale of large-size women's clothing. Since its inception, the brand "gardenlis" has targeted women over 25 years old, offering a range of fashionable garments. The company operates a chain of stores that provides a comprehensive shopping experience, allowing customers to purchase clothing, shoes, and accessories tailored to their needs.

You Caoping

Series A in 2018
You Caoping is a grass-growing shopping app.

Xiangwushuo

Series B in 2018
Xiangwushuo is a Beijing-based company that operates an online platform facilitating the buying and selling of unused items. It enables users to trade and share goods through a marketplace that incorporates a point system, allowing transactions without the direct use of money. In addition to catering to individual consumers, Xiangwushuo offers business owners a means to promote and sell their products online. The company focuses on software and platform development, contributing to the trading of new and idle goods while promoting sustainability through the reuse of items.

The Good Stuff

Series B in 2018
Founded in 2016, The Good Stuff is a community-based e-commerce startup focused on making premium products accessible to middle-class consumers in China. The company capitalizes on the growing trend of consumption in the country by emphasizing quality, wellness, and enjoyment. The Good Stuff employs a network of Curators who source high-quality products from farmers and artisanal producers worldwide. These products are then presented to Stylists, primarily young parents who serve as opinion leaders within their communities. Stylists select their preferred items and share recommendations with their networks, earning commissions for their contributions. Through this model, The Good Stuff fosters a community-driven approach to e-commerce while enhancing access to premium offerings.

Dahezi

Series A in 2018
Dahezi is an e-commerce platform specializing in women's wear, offering online personal styling services aimed at transforming the shopping experience for clients in China. The company employs a blend of data science and human judgment to provide personalized selections of apparel, shoes, and accessories tailored to individual styles. This approach allows customers to enjoy a customized shopping experience, complemented by the convenience of free returns.

LOOK

Series A in 2018
Look is an online supplier of fashion and lifestyle content, offering a diverse range of products, including clothing and consumer goods, available for online shopping. The company provides an e-commerce service platform that enables users, particularly in China, to access a selection of over 5,000 fashion items from around the globe, thereby transcending limitations of time and geography. Look enhances the shopping experience by integrating machine learning technology with human customer service, offering personalized fashion matching services to its customers. This approach aims to create an innovative and engaging platform for users seeking worldwide fashion options.

Bolt

Series A in 2018
Founded in 2014, Bolt enhances online shopping by offering a seamless checkout platform. It enables secure, logged-in, one-click purchases for shoppers, benefiting retailers like REVOLVE and Casper who use it to reduce cart abandonment and improve customer experience.

Xiaohongshu

Series D in 2018
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

Quan5.com

Series B in 2018
Quan5.com is an e-commerce platform that specializes in home furnishings and accessories. It integrates the home furnishing supply chain to offer a diverse selection of high-quality, luxurious furniture and household electronics that cater to various cultural styles. The platform aims to provide individuals with a comprehensive one-stop shopping experience for home-related needs, focusing on both industrial information and empowering participants in the home goods sector. Through its commitment to delivering exceptional products, Quan5.com seeks to enhance the way consumers engage with home decor and furnishings.

Club Factory

Series C in 2018
Club Factory is an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. By leveraging big data and artificial intelligence, the company scans the internet to identify factories that sell products on various platforms such as Wish, eBay, and Amazon. This allows Club Factory to compare prices from multiple sources, ultimately presenting customers with the lowest available prices. In addition to enhancing the shopping experience for consumers, the company also provides supply chain management solutions for enterprises, enabling them to optimize their operations and improve cost efficiency.

The Good Stuff

Series B in 2018
Founded in 2016, The Good Stuff is a community-based e-commerce startup focused on making premium products accessible to middle-class consumers in China. The company capitalizes on the growing trend of consumption in the country by emphasizing quality, wellness, and enjoyment. The Good Stuff employs a network of Curators who source high-quality products from farmers and artisanal producers worldwide. These products are then presented to Stylists, primarily young parents who serve as opinion leaders within their communities. Stylists select their preferred items and share recommendations with their networks, earning commissions for their contributions. Through this model, The Good Stuff fosters a community-driven approach to e-commerce while enhancing access to premium offerings.

Quan5.com

Series A in 2017
Quan5.com is an e-commerce platform that specializes in home furnishings and accessories. It integrates the home furnishing supply chain to offer a diverse selection of high-quality, luxurious furniture and household electronics that cater to various cultural styles. The platform aims to provide individuals with a comprehensive one-stop shopping experience for home-related needs, focusing on both industrial information and empowering participants in the home goods sector. Through its commitment to delivering exceptional products, Quan5.com seeks to enhance the way consumers engage with home decor and furnishings.

Xiangwushuo

Seed Round in 2017
Xiangwushuo is a Beijing-based company that operates an online platform facilitating the buying and selling of unused items. It enables users to trade and share goods through a marketplace that incorporates a point system, allowing transactions without the direct use of money. In addition to catering to individual consumers, Xiangwushuo offers business owners a means to promote and sell their products online. The company focuses on software and platform development, contributing to the trading of new and idle goods while promoting sustainability through the reuse of items.

YCloset

Series C in 2017
YCloset was an online clothing rental platform based in Beijing, founded in 2015. The company offered a subscription service that allowed users to rent women's clothing and accessories for a monthly fee, with no additional charges for individual items. Operating in approximately 40 cities across China, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen, YCloset partnered with over a hundred fashion brands to provide a diverse selection of apparel. The platform was accessible via mobile applications, enabling users to keep pace with the latest fashion trends without the need to purchase new garments. However, YCloset announced the closure of its operations by August 15, 2021.

Snowplus

Series A in 2017
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

Snowplus

Series A in 2017
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

YCloset

Series B in 2017
YCloset was an online clothing rental platform based in Beijing, founded in 2015. The company offered a subscription service that allowed users to rent women's clothing and accessories for a monthly fee, with no additional charges for individual items. Operating in approximately 40 cities across China, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen, YCloset partnered with over a hundred fashion brands to provide a diverse selection of apparel. The platform was accessible via mobile applications, enabling users to keep pace with the latest fashion trends without the need to purchase new garments. However, YCloset announced the closure of its operations by August 15, 2021.

Xiaohongshu

Series C in 2017
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

Snowplus

Seed Round in 2017
Snowplus is an e-cigarette brand that specializes in the development and sale of electronic cigarette and vaporizer products. The company offers a diverse selection of 12 different flavors and employs advanced TrueFeel honeycomb ceramic atomization technology along with Aeroflow intake technology. Snowplus prioritizes safety and quality, ensuring that its core components, including the atomizing core and cigarette holder, meet the highest medical safety standards set by the FDA and the European Union. By combining online and offline sales models, Snowplus aims to provide consumers with reliable and enjoyable vaping experiences while adhering to stringent food-grade standards and passing multiple third-party safety certifications.

Club Factory

Series B in 2017
Club Factory is an online shopping platform that facilitates cross-border e-commerce by connecting consumers directly with manufacturers. By leveraging big data and artificial intelligence, the company scans the internet to identify factories that sell products on various platforms such as Wish, eBay, and Amazon. This allows Club Factory to compare prices from multiple sources, ultimately presenting customers with the lowest available prices. In addition to enhancing the shopping experience for consumers, the company also provides supply chain management solutions for enterprises, enabling them to optimize their operations and improve cost efficiency.

reLife

Series B in 2016
reLife is an online retail platform that sells game consoles, earphones, smart watches, notebooks, flat mobile tablets, cell phones, and accessories such as chargers, peripherals, protective cases, smart bracelets, cameras, smart keyboards, and more.

meet you

Series E in 2016
Meet you is a female health management app that provides women's menstrual management consulting services. The app is providing mothers-to-be with rich pregnancy knowledge and intimate pregnancy reminders. Record the moment of baby growth and provide scientific advice on baby growth to mothers. At the same time, it provides girls with health, emotion, weight loss, beauty, and shopping knowledge posts, as well as a built-in real-girl communication area to accompany women during every important period.

Bon Cake

Series A in 2016
Bon Cake is an e-commerce platform specializing in the sale of unique, customizable cakes. The company offers a diverse selection of cakes, including designs inspired by popular cartoon characters, animals, flowers, and fruits. In addition to their cake offerings, Bon Cake also provides delivery services to enhance customer convenience. The focus on aesthetically pleasing and personalized cake options allows Bon Cake to cater to a wide range of occasions and preferences, making it a go-to destination for those seeking distinctive and visually appealing desserts.

Yiigoo

Series A in 2016
Yiigoo is a developer of an e-commerce platform specializing in baby clothing and accessories. The platform offers a curated selection of self-branded apparel made primarily from organic cotton, catering to infants and toddlers aged 0 to 3 years. Yiigoo's focus on affordability and safety allows parents to purchase high-quality, environmentally friendly products for their children.

Inagora

Series B in 2016
Inagora Inc. is a cross-border e-commerce company based in Minato, Japan, founded in 2014. It develops a platform that facilitates the sale of Japanese products, primarily to a Chinese customer base, through its mobile application Wando. The platform aids Japanese companies in connecting with overseas customers and simplifies cross-border transactions by addressing currency risks and providing logistics support. Inagora's online marketplace, Wandou, features approximately 40,000 products, emphasizing categories such as cosmetics, clothing, and food, and serves around 3 million users. The company is dedicated to enhancing the accessibility of Japanese goods in international markets.

YCloset

Series A in 2016
YCloset was an online clothing rental platform based in Beijing, founded in 2015. The company offered a subscription service that allowed users to rent women's clothing and accessories for a monthly fee, with no additional charges for individual items. Operating in approximately 40 cities across China, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen, YCloset partnered with over a hundred fashion brands to provide a diverse selection of apparel. The platform was accessible via mobile applications, enabling users to keep pace with the latest fashion trends without the need to purchase new garments. However, YCloset announced the closure of its operations by August 15, 2021.

Kuanduoduo

Series A in 2016
Kuanduoduo establishes a jewelry data Business Intelligence system, using data to drive upstream design and production, and using data prediction to guide downstream sales. They offer enterprise customization service, note private customization, and jewelry retail service. They guide jewelry retailers, providing targeted selling products and processing supply chain services. They provide jewelry, accessories, gifts, souvenirs, and other customized services for industries.

Gegejia.com

Series A in 2016
Gegejia, operated by Zhejiang Grid Network Technology Co., Ltd., is an e-commerce platform specializing in the sale of imported food products. Launched on March 26, 2015, the company quickly gained traction, processing over 10,000 orders within its first 30 days, generating millions in revenue. Gegejia partners with renowned international food brands to offer high-quality and carefully selected food items to Chinese consumers. The core team at Gegejia brings extensive e-commerce experience, with each member having between five to ten years in the industry, contributing to the company's strong resource network and operational expertise.

Inagora

Series A in 2016
Inagora Inc. is a cross-border e-commerce company based in Minato, Japan, founded in 2014. It develops a platform that facilitates the sale of Japanese products, primarily to a Chinese customer base, through its mobile application Wando. The platform aids Japanese companies in connecting with overseas customers and simplifies cross-border transactions by addressing currency risks and providing logistics support. Inagora's online marketplace, Wandou, features approximately 40,000 products, emphasizing categories such as cosmetics, clothing, and food, and serves around 3 million users. The company is dedicated to enhancing the accessibility of Japanese goods in international markets.

YCloset

Venture Round in 2016
YCloset was an online clothing rental platform based in Beijing, founded in 2015. The company offered a subscription service that allowed users to rent women's clothing and accessories for a monthly fee, with no additional charges for individual items. Operating in approximately 40 cities across China, including major urban centers like Beijing, Shanghai, Guangzhou, and Shenzhen, YCloset partnered with over a hundred fashion brands to provide a diverse selection of apparel. The platform was accessible via mobile applications, enabling users to keep pace with the latest fashion trends without the need to purchase new garments. However, YCloset announced the closure of its operations by August 15, 2021.

FUXK

Angel Round in 2016
FUXK is an online seller of computer products.

Bolt

Seed Round in 2015
Founded in 2014, Bolt enhances online shopping by offering a seamless checkout platform. It enables secure, logged-in, one-click purchases for shoppers, benefiting retailers like REVOLVE and Casper who use it to reduce cart abandonment and improve customer experience.

Kuanduoduo

Angel Round in 2015
Kuanduoduo establishes a jewelry data Business Intelligence system, using data to drive upstream design and production, and using data prediction to guide downstream sales. They offer enterprise customization service, note private customization, and jewelry retail service. They guide jewelry retailers, providing targeted selling products and processing supply chain services. They provide jewelry, accessories, gifts, souvenirs, and other customized services for industries.

Easyflower

Series A in 2015
Beijing Easyflower Co., Ltd. is a private company based in China, founded in 2014. It operates the e-commerce platform EasyFlower Yihuakeji, specializing in the sale of flowers. The company focuses on providing a convenient online shopping experience for customers seeking floral arrangements and related products.

Notre Jardin

Angel Round in 2015
Notre Jardin is a herbal tea producer and operator of a consumer beverage brand that sells flavored teas through online channels, offers private-label teas, a diverse range of flavors, and ecommerce distribution via major platforms with brand positioning tailored to regional tastes, enabling health-conscious consumers and tea enthusiasts to access curated blends directly from digital storefronts.

Easyflower

Seed Round in 2014
Beijing Easyflower Co., Ltd. is a private company based in China, founded in 2014. It operates the e-commerce platform EasyFlower Yihuakeji, specializing in the sale of flowers. The company focuses on providing a convenient online shopping experience for customers seeking floral arrangements and related products.

Xiaohongshu

Series A in 2014
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

miBaby

Series B in 2014
miBaby GmbH, established in April 2010 and headquartered in Munich, Germany, operates an online shopping portal dedicated to providing baby products for expectant and new parents. The company's platform supports parents in purchasing essentials for infants and toddlers. In addition to its e-commerce services, miBaby publishes a magazine that offers information about baby products, along with tips from midwives and user advice.

Xiaohongshu

Series A in 2014
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

miBaby

Seed Round in 2014
miBaby GmbH, established in April 2010 and headquartered in Munich, Germany, operates an online shopping portal dedicated to providing baby products for expectant and new parents. The company's platform supports parents in purchasing essentials for infants and toddlers. In addition to its e-commerce services, miBaby publishes a magazine that offers information about baby products, along with tips from midwives and user advice.

Xiaohongshu

Seed Round in 2013
Xiaohongshu, founded in 2013 and based in Shanghai, China, is a lifestyle sharing platform that allows users to share experiences through text, images, and videos. Initially aimed at assisting overseas travelers with shopping, it has transformed into a vibrant community focused on various lifestyle areas, including cosmetics, fashion, food, travel, entertainment, reading, fitness, and childcare. The platform serves as a social e-commerce space where users can post their favorite products, share shopping experiences, and discover global merchandise, particularly in luxury and beauty sectors. By fostering user-generated content, Xiaohongshu encourages a collaborative environment for lifestyle enthusiasts to exchange insights and recommendations.

Hortor

Series A in 2013
Beijing Hortor Soft Co., Ltd. is a company specializing in the development and marketing of mobile games and integrated publishing solutions, particularly within the fashion industry. Founded in 2011 and based in Beijing, China, Hortor offers innovative applications such as "Crazy Guess Figure," "Fashion Assistant," and "Digital Fair," which have gained popularity in mobile app rankings. The company maintains strong partnerships with various media groups and has established itself as a key player in providing mobile publishing solutions, especially for clients in the Chinese market. With a focus on combining fashion insights and content production expertise, Hortor aims to address specific needs within the garment sector, including streamlining order-placing processes for enterprises.

The Good Stuff

Seed Round in 2012
Founded in 2016, The Good Stuff is a community-based e-commerce startup focused on making premium products accessible to middle-class consumers in China. The company capitalizes on the growing trend of consumption in the country by emphasizing quality, wellness, and enjoyment. The Good Stuff employs a network of Curators who source high-quality products from farmers and artisanal producers worldwide. These products are then presented to Stylists, primarily young parents who serve as opinion leaders within their communities. Stylists select their preferred items and share recommendations with their networks, earning commissions for their contributions. Through this model, The Good Stuff fosters a community-driven approach to e-commerce while enhancing access to premium offerings.

Fanhuan.com

Angel Round in 2012
Fanhuan.com operates an online shopping portal in China that helps consumers save money by earning cash-back from partner e-commerce stores. Founded in 2008 and based in China, it aggregates a large member base and collaborates with major online retailers to receive a share of sales commissions, most of which is returned to members as cash-back. The company emphasizes that the cash-back does not affect any existing preferential treatments and has more than eight million loyal members.

Instreet

Angel Round in 2011
Instreet is a Beijing-based company that operates an online information platform specializing in images and videos. Founded by Nan Hu, Instreet Network serves as a shopping website and open information distribution hub. It offers picture-interactive information and in-picture advertising, effectively merging internet advertising with shopping guidance. The platform employs advanced object identification and extraction technology to enhance user experience in social shopping and personal recommendations, particularly in the business-to-consumer sector. Through its innovative approach, Instreet aims to enrich e-commerce by leveraging rich media to facilitate engaging and informative shopping experiences.

Jumei

Angel Round in 2009
Jumei is a China-based online platform specializing in cosmetics and personal care products, catering primarily to women. As a pioneering business-to-consumer e-commerce site focused on the cosmetics sector, Jumei aims to capitalize on the growing demand for beauty products while minimizing competition with other retail markets. Since its inception, the platform has experienced significant growth, with monthly sales increasing from 100,000 Yuan to 500,000,000 Yuan within three years. Jumei offers a diverse range of products, featuring well-known brands such as Calvin Klein, Estee Lauder, Avon, and Elizabeth Arden. The company has attracted substantial venture capital from notable investors, including Alibaba and Sequoia Capital, and currently boasts nearly four million registered users. Founded by Chen Ou in Beijing, Jumei has established itself as a key player in the online beauty retail industry.

LightInTheBox.com

Angel Round in 2006
LightInTheBox Holdings Co., Ltd. is a B2C e-commerce platform that specializes in offering a diverse range of products directly to consumers worldwide. Founded in 2006, the company has built a comprehensive integrated supply chain, featuring approximately 60,000 items across categories such as consumer electronics, customized garments, sports equipment, and cultural goods. The platform has established strong partnerships with numerous suppliers throughout China, enabling it to maintain a robust inventory and efficient logistics. LightInTheBox serves customers in over 200 countries, attracting more than 1 million daily foreign visitors. The company also provides logistics services to e-commerce retailers and small businesses, further enhancing its operational capabilities. With Europe identified as a key revenue driver, LightInTheBox competes with major rivals like AliExpress and eBay in the global online retail market.
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