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.