Existing investor SIG Asia was among the participants as the maternal and baby clothing retailer raised $47.6m to spend on marketing and supply chain enhancement.
US-based e-commerce platform PatPat has received RMB300m ($47.6m) in a series C round featuring SIG Asia, a corporate venturing subsidiary of technology and trading firm Susquehanna International Group, Sohu has reported.
Venture capital firm Sequoia Capital led the round, which included VC group IDG Capital and VC firm Frees Fund.
Founded in 2014, PatPat sells discounted baby, child and maternity clothing online through a daily deals model that utilises big data technology and social media marketing as well as flash sales.
The funding will be used to enhance PatPat’s network of supply chain and brand partners, and to continue to build its own brand. It has 20 million users across more than 100 countries and regions worldwide, according to Sohu.
PatPat had previously raised undisclosed sums in a series A round led by IDG Capital, a series A+ round led by Frees Fund and a series B led by SIG…
