Club Factory raises $100M Series D funding
Gunderson Dettmer client Club factory, a China-based fashion, beauty and lifestyle e-commerce store, has raised $100 million in a Series D round of financing to expand its platform in India. The round was led by leading venture capital firm Qiming Venture Partners.
Commenting on the funding, Club Factory founder and CEO Vincent Lou said, “India has the world’s second-largest population with the purchasing power parity (PPP) ranking third worldwide. A huge market like this undoubtedly has diversified market demand, but many players pursue a narrow range of products through a closed ecosystem. Indian customers also need another kind of e-commerce platform – a more open one – which provides more options to customers and more vitality to the e-commerce field. This is why Club Factory has been able to rapidly grow in India.”
The Gunderson Dettmer deal team was led by Zhen Liu and included Mabel Ding.