China’s ICHunt.com raises $23 m led by units of Haitong Securities

Credit: Flickr/miniyo73

ICHunt.com, a Shenzhen-based B2B business platform for electronic components, has raised RMB160 million ($23 million) in a Series B+ financing round led by Haitong Innovation Securities Investment and Haitong Kaiyuan Investment, according to a report by the China Money Network.

The two lead investors come under Haitong Securities Co Ltd, one of the oldest securities companies in China.

Others who joined the round include Beijing Wenhua Haihui, Shenzhen Huanuo Innovation and HUA Partners.

Proceeds of the latest financing will be used for business development, self-operated stock keeping units and warehouses, as per the report.

Founded in 2015, ICHunt.com provides integrated circuits (IC) electronic components for small and medium-sized enterprises and the investment has helped ICHunt receive supplier resources of IC futures market and spot market.

With the introduction of online traders to the platform, ICHunt claims to have helped improve the information imbalances in the trading market.

ICHunt raised its Series B round of tens of millions of RMB, led by JD.com, in December last year.

Prior to that, the company raised a RMB10 million ($1.5 million) pre Series A round from Matrix Partners China, followed by a Series A+ round from N5 Capital of an undisclosed amount.

Also Read:

Tencent, Sequoia back $450m Series E in car maintenance provider Tuhu

JD.com-Central e-commerce joint venture launches officially in Thailand

 

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.

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.