Beijing-based diaper and baby formula e-commerce platform Miyabaobei.com has received US$20 million series B financing led by Sequoia Capital, according to Chinese media reports.
Existing investors Zhen Fund and China Renaissance K2 Ventures also participated in the round.
Sequoia Capital partner Zhou Kui will join Miyabaobei’s board of directions post investment.
Previously, Miyabaobei.com received several million U.S. dollar series A financing from Zhen Fund and China Renaissance K2 Ventures in January.
Founded in 2011, Miyabaobei.com sells discounted imported diapers and baby formula to Chinese consumers.
