Beijing-based online home textile company Umanto has raised tens of millions U.S. dollars in series B funding, according to Chinese media reports.
Previously, Umanto received angel funding from Chinese entrepreneurs and angel investors Xu Xiaoping, Wu Ying and Liu Xiaosong in 2012. It also received several million U.S. dollars from Ventech Capital in 2013.
The company says it will use the proceeds on product design and marketing, as well as constructing warehouses and improve its logistics.
Founded in August 2011, Umanto specializes in the sale of home textile products such as bedding suite, towels, quilts, carpets, table cloth, and other household decorative products, which are sold through third party online platforms such as VIPshop, 360Buy and Taobao’s Tmall.
The company’s sales volume reached RMB100 million in 2013.
Founder and CEO of Umanto, Feng Yi, previously worked at McKinsey & Company, Ebay and Ku6.
This month, SIG China also led a series B financing for Shanghai-based voice application Chumenwenwen.