China’s B2C e-commerce tech startup Dianxiaomi raises $110 million led by SoftBank, Sequoia
Chinese business-to-customer cross-border eCommerce startup Dianxiaomi has raised $110 million in a Series D funding round led by SoftBank Vision Fund 2 and Sequoia China, with the participation of Tiger Global Management, GGV Capital, and others.
SoftBank Vision Fund 2’s investment in Dianxiaomi is surprising considering that the parent company SoftBank just reported its biggest ever loss, posted a $23.4 billion in quarterly loss as the global market sell-off spread to tech stocks.
The latest funding, which brings the company to a total value of USD 210 million, will be used to further expand its overseas team and accelerate international growth. The startup will also use the new capital infusion to develop and release additional products in more countries, to create a worldwide-connected infrastructure.
With millions in the war chest, Dianxiaomi said it plans to open new offices in the UK, Malaysia, and Indonesia, as it is looking for additional markets to expand.
Founded in 2014 by Jianyin Du, Dianxiaomi provides one-stop services for global e-commerce sellers. Its international e-commerce platform has easily become a preferred market solution provider, with annual transaction volumes that exceed RMB 350 million (approximately USD 51.5 million).
Dian Xiaomi said it aims to make cross-border e-commerce less complicated by enabling merchants to set up their stores in one centralized location that simplifies the processes and reduces the risk of human error.
The platform counts over 1.5 million users around the world and has partnered with more than 50 international e-commerce platforms. Moreover, it benefits from 1,600 logistics providers and has opened 80 warehouses abroad to oversee shipping and delivery.
Dian Xiaomi has also created a diversified product map focusing on ERP software as its main solution. It also provides services of e-commerce ERP for Amazon sellers and local sellers in both Latin America and Southeast Asia. It also offers its ERP software to Chinese vendors on a series of popular platforms, including Wish, Amazon, eBay, AliExpress, and Shopee, and focuses on SME sellers with less than 5,000 orders per day.