Deerma clears $54m series B

Jul 10, 2020 • Robert Lavine

Feiyu's home appliance spinoff has received $54.2m from Cathay Capital, Fortune Capital and JinYi Capital that will fund marketing and R&D.

Foshan Shunde Deerma Electronic Appliance, a household appliance offshoot of China-based e-commerce firm Guangdong Feiyu Electronic Commerce Group, has secured RMB380m ($54.2m) in series B funding, DealStreetAsia reported on Tuesday.

Private equity firm Cathay Capital, venture capital firm Fortune Capital and structured credit-focused investment firm JinYi Capital supplied the funding, according to a statement cited by DealStreetAsia.

Deerma provides home appliances such as vaccuum cleaners, humidifiers, clothes dryers and kitchen products through its own e-commerce platform in addition to brick-and-mortar…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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