Baibu

History

2019: Investments from Yury Milner's fund DST Global

In the middle of December, 2019 Yury Milner's fund DST Global announced investment into the Chinese cloud platform for management of Baibu textiles warehouses. The startup completed the next round of financing which total amount was $300 million.

Milner's fund along with CICC Capital headed a round. DST Global Rusbase confirmed the transaction. Besides, Source Code Capital, Tiger Global Management, Yunqi Capital, Chgengwei Capital and Bull Capital Partners took part in a round.

Yury Milner's fund DST Global invested in development of the Chinese cloud platform for management of Baibu textiles warehouses

According to data of Baibu, this round of investments became the largest in the history of the textile industry of China and should assign even stronger to Baibu the leading positions in this industry. In 2018 the Baibu company attracted $100 million investments.

Baibu is a cloud platform with control function by warehouses which connects producers to wholesale and retail sellers of textiles. It was founded in 2014 and by the end of 2019 became the leading cloud platform for service of an intelligent network of supply of textiles and fabrics. The company covers two business segments: an intellectual cloud platform which connects factories on production of not trimmed fabric and the first-class wholesale dealers, and the high-quality platform for trade in ready fabric which integrates wholesalers and medium-sized producers of clothes.

After a new round of investments Baibu promised to use the best efforts to optimize cooperation with suppliers, researches and new product development and also the systems of warehousing and customer service. Baibu considers the purpose assistance of digitalization of the textile industry. In addition a startup, the leading textile companies in China Jiangsu Hengli Group, Shanghaitex Holding and Lu Thai Textile are among.^[1]

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