Foshan Shunde Deerma Electronic Appliance Co., Ltd, a subsidiary of e-commerce company Guangdong Feiyu Electronic Commerce Group Co., Ltd, announced that it has raised a total of 380 million yuan ($54 million) in a Series B round of financing from Chinese cross-border private equity firm Cathay Capital, Fortune Capital and Jinyi Capital.
With this, the total capital raised by Deerma touches 1.21 billion yuan ($172 million), it said in the statement.
