Molbase, a Shanghai-based chemicals e-commerce platform, has raised tens of million U.S. dollar series C round of financing led by Sequoia Capital China and TBP Capital, according to Chinese media reports.
Existing investors Innovation Works, Fosun Kinzon Capital and Vangoo Capital also participated.
Molbase began as a chemicals source and database platform, then transitioned to a B2B channels for the RMB1.4 trillion (US$216 billion) chemicals market in China.
Currently, its platforms have over 80,000 active suppliers and buyers of chemicals conducting total merchandise transaction value of RMB60 billion annually.
In December 2013, Molbase.com completed series A financing of US$10 million led by Chinese venture firm Innovation Works and Trustbridge Partners.
In 2014, it received tens of millions U.S. dollars series B round of financing from undisclosed investors, and completed a series B+ round in June 2015 from Fosun Kinzon Capital.