Zhaogang shows steel with $153m series E

Jan 6, 2016 • Robert Lavine

The business-to-business steel trading platform, which counts IDG among its investors, has now secured $290 in total and is gearing up for an IPO in China.

Zhaogang.com, a China-based online steel trading platform backed by media company International Data Group (IDG), has closed a $153m series E round funded by undisclosed investors, China Money Network reported yesterday.

Zhaogang operates an online platform reportedly responsible for some 200,000 tons of steel being traded by businesses each day. It has more than 60,000 registered corporate buyers.

The company previously raised $100m in a January 2015 series D round co-led by IDG’s Chinese venture capital affiliate, IDG Capital,…

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