Chinise textile B2B platform Baibu announced the completion of a US$300 million series D round of financing led by DST Global and CICC Capital.
Source Code Capital, Tiger Global Management, Yunqi Capital, Chgengwei Capital and Bull Capital Partners also participated in this round.
This is the largest round of financing in China’s textile fabrics field to date, which further consolidates Baibu’s leading position in the textile fabrics industry.
Founded in 2014, Baibu is the leading domestic intelligent supply chain service platform for textiles and fabrics. The company covers two business segments: a smart cloud factory for grey fabric production which connects upstream grey fabric factories and first-class wholesalers, and a high-quality finished fabric trading platform which connects first-class wholesalers and downstream small and medium-sized garment manufacturers.
After this investment, Baibu will continue to make efforts in supplier cooperation, product research and development, warehousing system, and customer service, to promote the digitalization and intelligence of the textile industry.
(This article is translated from Source Code Capital. You can see the original article in Chinese here.)