Chinese pet e-commerce site Boqii lands $25M in Series B funding
Chinese pet e-commerce site Boqii has secured $25 million in a Series B funding round led by undisclosed American investors, according to VentureBeat.
Although the leaders of the said round were not disclosed, China Money Network reported that previous investors Goldman Sachs and Jafco Asia contributed to the funding. The Shanghai-based company has closed its first funding round from both investors in mid-2014, the report said.
Boqii will use the new capital to build up its brand and marketing campaigns. It will also focus on improving its online-to-offline (O2O) services, the report detailed.
According to VentureBeat, the pet-focused site has partnered with other similar sites to expand its market reach. This year, the firm is targeting an offline expansion in Beijing, the report stated.
Boqii was formed in 2007 as a site that markets pet food, accessories, and services. The site claims the number of its registered users has already reached the 3-million mark, China Money Network reported.