Jiuxian.Com Completes $68.5M Series D And E Rounds

Beijing-based alcoholic beverage e-commerce company Jiuxian.com has raised RMB425 million ($68.5 million) in two rounds of financing, according to Chinese media reports.

They are RMB260 series E round completed in early 2014, and RMB165 million series D financing completed in December 2013.

Investors of the two rounds include existing investors Rich Land Capital, Oriental Fortune Capital and Sequoia Capital.

Founded in 2009, Jiuxian previously received US$20 million series A funding from Guangzhou-based alcohol company Yuekeung Winery in April 2011.

It then received tens of millions U.S. dollars series B funding from Oriental Fortune Capital (OFC) and Sequoia Capital in November 2011, and RMB200 million series C financing from Rich Land Capital in 2012.

Jiuxian.com says it will use the proceeds on construction of warehousing centers in China and promotion of its O2O (online-to-offline) platform Jiukuaidao.com.

Jiuxian.com provides high-grade wines for customers. It currently has five operation centers in Beijing, Shanghai, Guangzhou, Tianjin and Wuhan.

Founded in 2011, Rich Land Capital has RMB1 billion (US$162.5 million) under management.

Oriental Fortune Capital has a total of RMB7 billion (US$1.14 billion) under management since its establishment in 2006.

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