Bull Capital, Sequoia Lead $34.8M Series C Round For Zhaogang


Shanghai-based steel trading website Zhaogang.com says that it has received US$34.8 million in series C funding, according to a company announcement.

Bull Capital Partners and Sequoia Capital led the round. Existing investors Matrix Partners China and K2 Ventures also participated.

The latest investment values Zhaogang at US$2 billion.

The company previously received series A funding from K2 Ventures and Zhenfund in 2012, and series B funding from Matrix Partners China and K2 Ventures in January 2013.

Founded in 2012, Zhaogang claims to have a daily distribution volume of 50,000 tons of steel.

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