Chinese ecommerce firm checks out with $110m from SoftBank, Sequoia

Dianxiaomi, a China-based ecommerce software-as-a-service platform, has bagged US$110 million in a series D round co-led by SoftBank Vision Fund 2 and Sequoia China. The startup’s existing investors, Tiger Global Management, GGV Capital, and Huaxing Growth Capital, also participated in the round.

Photo credit: Dianxiaomi

With the latest investment, Dianxiaomi has raised a total of US$210 million this year. In March, the company closed a US$100 million series C round.

Founded by Du Jianyin in 2014, the firm specializes in developing infrastructure for cross-border ecommerce. Its core products include enterprise resource planning (ERP) software, customer service systems, logistics tracking, and cloud warehouse services.

The company said it has over 1.5 million users globally and facilitates over 350 billion yuan (US$51.7 billion) in transaction volume annually.

In 2019, the firm marked its presence in Southeast Asia by launching BigSeller, an ecommerce enabler. At present, the platform counts more than 400,000 merchants across the region as clients.

The fresh funding will fuel Dianxiaomi’s expansion drive across other international markets. The company plans to grow its overseas team to help it launch localized products in Latin America, Europe, and the US.

According to a Polaris study, the global cross-border B2C ecommerce market was valued at US$764.7 billion in 2021. It is projected to reach over US$5 trillion by the next decade at a compound annual growth rate of 26.2%.

See also: Explaining TikTok’s ecommerce bet in Southeast Asia

Currency converted from Chinese yuan to US dollar: US$1 = 6.77 yuan.