Online Pet Store Receives $25M Series B Financing

Shanghai-based e-commerce platform for pet owners has received US$25 million series B financing, according to Chinese media reports.

An undisclosed U.S.-based investment firm led the round. Existing investors Goldman Sachs and Jafco Asia also participated.

Boqii previously received tens of millions U.S. dollars series A funding from Goldman Sachs and Jafco Asia in June 2013.

The company says it will use the proceeds on optimizing online-to-offline (O2O) service experience as well as brand building and marketing.

Founded in 2007, Boqii focuses on pet related products, including pet food, accessories, and pet care services. According to the company’s website, Boqii currently has more than 3 million registered users.

China’s pet industry stood at RMB40 billion ($6.5 billion) in 2012, compared to US$53.3 billion in the U.S.

Established in 1990, JAFCO Asia has more than US$1.2 billion under management, with registered entities in Singapore, Hong Kong, Taipei, Seoul, Beijing and Shanghai.

JAFCO Asia focuses on technology related investments. It has invested in over 423 companies in 13 countries including China, Hong Kong, South Korea and Singapore.