The fundraising will be mainly used for product research and development, laboratory construction, the introduction of high-end talents, as well as intelligent warehousing and automated logistics.
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Babycare, a maternal and child product brand announced that it has completed Series B financing of CNY 700 million led by CDH Investment, followed by China Renaissance and Sequoia China. Founded in July 2014, the company provides a full range of maternal and child care products, serving children from one to six years old.
During the Double 11 shopping festival in 2020, Babycare's omnichannel sales exceeded CNY 900 million. Since 2018, it has ranked first in the maternal and infant industry for three consecutive years in terms of revenue. Babycare's GMV in 2020 exceeded CNY 5 billion, with a compound annual growth rate of over 100%. At present, the company has served more than 30 million families and has more than 10 million registered members.
In recent years, China's maternal and infant new retail industry has continued to improve. According to iiMedia, the market size has reached CNY 3 trillion in 2019 and exceeds CNY 7 trillion in 2024. With the upgrading of consumer demand, the maternal and child market has become more segmented and diversified. The epidemic outbreak has further accelerated the online and offline integration of maternal and child product sales.