In a Series C round, e-commerce solution firm Dianxiaomi raised US $100 million dollars. The firm is, of course, China-based, and the funding round was spearheaded by investment firms such as Tiger Global Management along with Huaxing Growth Capital.
These mentioned above were not the only investment firms partaking in this Series C funding as the participation from existing investors such as Gaorong Capital, CDH Investment, GGV Capital was also noticed.
Dianxiaomi was first launched in 2014. The e-commerce firm specialises in offering enterprise-based resource planning solutions to e-commerce businesses. Services like client service, logistics tracking, and shared warehousing are available from this China-based e-Commerce company.
Founded in 2019, BigSeller, an e-commerce platform focused on Southeast Asia, is owned by Dianxiaomi. Using the Big Sellers platform, businesses can list products, gather orders, manage inventory, and perform data analytics.
The managing partner at GGV Capital, Eric Xu, opined on this Series C investment and how it can be beneficial for both the economy and the upcoming generation. According to him, the Southeast Asian region has rapidly emerged as one of the fastest-growing markets for e-commerce. Mr. Eric Xu also said along the lines of how online shopping and spending budgets in the region will drive the next generation of e-commerce enablers.
The Series C funds recently acquired by Dianxiaomi will be put to good use, particularly in areas and sectors related to hiring remarkable fresh talents to broaden its horizons and offer better services, development of existing products, upgrades in services to meet the present demand, and last but not least, expanding its global operations.
In related news, a recent report says that e-Commerce revenue in the Southeast Asian region will reach US$142 billion in 2022. The Chinese e-commerce market is expected to generate US$1.4 trillion in revenue this year, the largest in the world.