Chinese O2O new retail unicorn KK Group pockets $142m in Series E round

Matrix Partners China announced to have backed KK Group in its $100 million Series D round. The photo is provided in the statement released on its WeChat official account on October 23, 2019.

KK Group, a Chinese online-to-offline new retail business rebranded from “KK Guan,” has raised 1 billion yuan ($142 million) in a Series E round of financing, about eight months after the company entered the unicorn club at a valuation of over $1 billion.

The investment comes as China’s economy gradually recovers and consumer demand revives after the easing of coronavirus-related lockdown measures in one of the world’s largest consumer markets, although it could still take months for the activity to return to pre-crisis levels.

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