Chongqing Epet Technology Co., Ltd., the Chongqing, China-based operator of Epet.com, a pet products e-commerce platform, raised US$50m in series B funding.
The round was led by IDG Capital.
The company will use the capital to advance its global supply chain to open new overseas branches in addition to Hong Kong and the U.S. with plans to enter the European Union, introducing more products from the international market to China.
Launched in 2009 by Xiao Yu, CEO, Epet.com is a pet products e-commerce platform that owns and operates independent logistics and warehousing services in China. It now sells more than 30,000 pet products consisting of 748 brands with 2.3 million registered users and 100,000 daily active users.
The platform has a sales volume exceeding 500m yuan (US$74.6 million) maintaining a high growth rate of 200% for six consecutive years.