By AVCJ Larissa Ku
Babycare, a Chinese baby products brand, has raised RMB700 million ($108 million) in Series B funding led by CDH Investments. Sequoia Capital China and Huaxing Growth Capital also participated.
It follows a RMB300 million Series A - led by Sequoia - in August 2019, according to AVCJ Research's records.
Founded in 2014, Babycare has more than 10 million registered members and claims to serve 30 million families. Having made its name with an innovative baby carrier designed as a waist stool, the company expanded its coverage from babies to six-year-olds. The pan-maternal and baby product matrix includes diapers, toddler clothing and toys, infant foods, and educational tools.
Babycare has maintained a compound annual growth rate of more than 100% over the past six years, achieving sales of RMB5 billion in 2020. In last year's Single’s Day shopping festival, it ranked first in the maternal and infant product category with RMB900 million in sales.
“What impresses us most is Babycare’s long-term commitment to high-quality and safe products that users can trust. They have maintained high standards in terms of production and supply chain controls. The long-term value-oriented management approach suggests it has the makings of a great consumer goods company,” said Xiaoling Hu, a founding partner at CDH.
Read More: https://www.avcj.com/avcj/news/3022721/cdh-leads-usd108m-series-b-for-china-baby-care-brand
By AVCJ Larissa Ku
Babycare, a Chinese baby products brand, has raised RMB700 million ($108 million) in Series B funding led by CDH Investments. Sequoia Capital China and Huaxing Growth Capital also participated.
It follows a RMB300 million Series A - led by Sequoia - in August 2019, according to AVCJ Research's records.
Founded in 2014, Babycare has more than 10 million registered members and claims to serve 30 million families. Having made its name with an innovative baby carrier designed as a waist stool, the company expanded its coverage from babies to six-year-olds. The pan-maternal and baby product matrix includes diapers, toddler clothing and toys, infant foods, and educational tools.
Babycare has maintained a compound annual growth rate of more than 100% over the past six years, achieving sales of RMB5 billion in 2020. In last year's Single’s Day shopping festival, it ranked first in the maternal and infant product category with RMB900 million in sales.
“What impresses us most is Babycare’s long-term commitment to high-quality and safe products that users can trust. They have maintained high standards in terms of production and supply chain controls. The long-term value-oriented management approach suggests it has the makings of a great consumer goods company,” said Xiaoling Hu, a founding partner at CDH.
Read More: https://www.avcj.com/avcj/news/3022721/cdh-leads-usd108m-series-b-for-china-baby-care-brand