GGV co-leads $23m series B round of Chinese cross-border ecommerce startup

Dianxiaomi, a business-to-customer cross-border ecommerce startup, announced that it has completed 150 million yuan (US$23.1 million) in a series B funding round led by GGV Capital and CDH Investments, with participation from Kunlun Fund.

Photo credit: Dianxiaomi

Founded in 2014, Dianxiaomi provides small and medium-sized sellers with enterprise resource planning (ERP) solutions and connects them to global ecommerce platforms such as Amazon, Shopee, Shopify, eBay, and AliExpress, among others.

The Shenzhen-based firm offers services including order processing as well as inventory and customer management, among other services.

Dianxiaomi claims that it recorded 150 billion yuan (US$23 billion) in transaction volume annually and has nearly 700,000 registered users globally.

The new funds will go toward product development, market expansion, and talent hiring, according to a company statement.

In an interview with Sina, Dianxiaomi’s co-founder and CEO Du Jianyin noted that his company has achieved positive cash flow since 2017.

Moving forward, Du added that the startup will not only focus on helping Chinese sellers exporting goods but will also seek partners to expand overseas.

The global cross-border B2C ecommerce market is expected to reach US$4.8 trillion by 2026, growing from US$780 billion in 2019, according to a report from research firm Facts & Factors.

Previously, Dianxiaomi raised millions of yuan in a seed round from Initial Capital in 2015 and an undisclosed amount of series A money from Z-Park River Capital in 2016, according to data provider Qichacha.

Currency converted from Chinese yuan to US dollar: US$1 = 6.49 yuan