Asian goods e-tailer Yamibuy has raised a $10 million Series A round led by GGV Capital of Beijing, according to a press release.
The City of Industry-based e-commerce shop sells Asian snacks, beauty products, health supplements and home appliances to consumers in the United States. The company, founded in 2013, has 510,000 registered customers and a catalog of approximately 15,000 products. It mostly sells Chinese goods, but also carries Korean and Japanese products.
“For the past four years, Yamibuy steadily increased its market share and brand presence within the Asian American community, without the help of any capital investment,” said Alex Zhou, founder and chief executive of Yamibuy, in a statement. “With this first infusion of institutional funds, Yamibuy will be able to better serve its customers, bring in more products and improve the overall customer experience.”
New Oriental Education & Technology Group Inc. and K2VC also participated in the round. Both firms are also based in Beijing.
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