Textile e-commerce firm Baibu raises $100m Series C2 led by Tiger Global

Beijing-based B2B textile e-commerce platform Baibu has raised $100 million in a Series C2 financing round led by Tiger Global Fund, according to an announcement on QQ.

The funding round was joined by its existing investors Source Code Capital, ChengWei capital, Yunqi Capital and Bull Capital Partners.

Chongying Capital acted as the exclusive financial advisor to Baibu for this financing round.

Baibu said it will use proceeds from the latest round to build a new high-efficiency supply chain to better serve enterprises in the apparel industry.

Baibu had in August raised $30 million in its Series C round. Last year, the company raised CNY 165 million ($23.8 million) in the second tranche of its Series B round.

Wang Pengfei, managing director of Tiger Global Fund China, said Baibu has the opportunity to greatly transform the supply chain and empower participants in all aspects of the textile industry chain.

“It has played a good demonstration effect for the transformation and upgrading of the traditional industry by the Internet,” said Pengfei.

Founded in 2014, Baibu has established a supply chain centre in Guangzhou, Shaoxing and intelligent warehousing systems across China. The platform works with more than 1,000 first-tier suppliers.

With over 5,000 first-tier suppliers in China providing nearly 3 million fabric styles and being updated at a rate of nearly one million new products yearly, garment enterprises face a challenge to find the right product of the right quality and price.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.