Jiuxian.com Completed Series B Round from Sequoia and Oriental Fortune Capital
Jiuxian.com, the first liquor-centric online retailer of its kind in China announced completing a Series B round of funding for US$ tens of millions from Sequoia China and Oriental Fortune Capital. The funding will go towards beefing up warehousing and logistics with an aim to get listed.
Founded in September 2010, Jiuxian has raised US$ 20 million in first round in this April . The vertical offers wine, white spirit, high-grade beer, wine set and so on. With a sales target of over US$ 78 million for this year and a target to generate north of US$ 1.5 billion in sales in the next three years, Jiuxian is planning to go public in 2014 in the States or in Hong Kong.
One of its arch rivals, Yesmywine raised US$40 miilion in a Series C financing led by Chengwei Capital this May. The Shanghai-based company has raised over US$53 million since its launch in late 2008, US$3 million for the Series A by DCM and US$10 million for Series B led by Mandra Capital.
アーチライバルの一つ、Yesmywineはこの5月にChengwei Capital主導の資金調達シリーズCにおいて4千万USドルを調達した。上海に本社を置く同社は2008年後半に立ち上げて以来5300万USドル以上を調達し、DCMによるシリーズAで300万USドル、Mandra CapitalによるシリーズBで1,000万USドルを調達している。
主要ライバル企業のYesmywine（也買酒）は、今年5月の資金調達シリーズCでChengwei Capital（成為資本）らから4000万米ドルを調達している。同社の拠点は上海で、2008年末の開設から5300万ドル以上（シリーズAではDCMなどから300万米ドル、シリーズBではMandra Capitatl社などから1000万ドル）を獲得している。
Just like Jiuxian.com, YesMyWine also used the funding to expand warehousing and logistics services as well as to widen collections.
China displaced Japan in 2009 to become the largest Asian wine consumer. According to statistics by China Customs, the total import value of wine increased 70% last year. There’s a big and fruitful market behind the expansion.
