The IDG-backed series A round will be used to expand Zhaosuliao's reach across its home country of China.
China-based online plastic trading platform Zhaosuliao raised $20m in series A funding from investors including IDG Capital Partners, a venture capital affiliate of media company IDG, on Saturday.
VC firm Qiming Venture Partners, Matrix Partners China, a subsidiary of US-based investment firm Matrix Partners, and angel investor Li Zhujie also took part in the round. The company had already raised about RMB 10m ($1.6m) in seed funding from Zhenshun Fund and Matrix Partners China.
Founded in July 2014, Zhaosuliao provides…
