Chinese e-commerce service platform Baozun has acquired Singapore’s luxury brand management company Full Jet Limited. In a separate development, Monad has raised 200 million yuan ($30 million) in a Series A round of financing jointly led by Lucion and ABclonal.
Alibaba-backed Baozun buys Singapore’s Full Jet
Alibaba-backed Chinese e-commerce service platform Baozun Inc., has picked up all shares in the Singapore-based luxury brand management company Full Jet Limited, according to a company statement. The deal size was undisclosed.
Baozun and Full Jet will support global brands across Singapore, London, Tokyo, and Korea to better enter and understand China’s prosperous e-commerce business.
Baozun, which was listed in Nasdaq in 2015 and Hong Kong in 2020, provides integrated e-commerce solutions for brands. Its offerings cover IT solutions, online store operations, digital marketing, and warehousing.
Chinese e-commerce major Alibaba is a major shareholder in Baozun holding 14% equity interest. Alibaba had exclusively pumped ‘millions of US dollars’ in Baozun’s Series A round in 2010. Subsequently, in 2011, Alibaba invested in its Series B round.
In January 2021, Baozun had picked up a roughly 4% stake in Nasdaq-listed Chinese independent online marketing solutions provider iClick Interactive Asia Group by pouring a total of $50 million.
According to a 2020 report by Bain & Co., China’s personal luxury market grew more than 45% in 2020 and the appetite of Chinese consumers for luxury products will also continue to grow, taking 46% of the global market by 2025.
Medical equipment provider Monad bags $30m Series A
Life sciences-focused medical equipment and services provider Monad said on Wednesday that it has pocketed 200 million yuan ($30 million) in a Series A round jointly led by state-owned investment firm Lucion and biotech company ABclonal.
The Series A round was joined by state-backed venture capital arm Wuxi Capital, per a company statement.
Monad plans to use the proceeds to develop medical equipment, spruce up its manufacturing and sales teams, as well as advance R&D and operational capacities.
Incorporated in 2017, Monad is a joint venture co-launched by Zhuhai Nanshan Investment. A gamut of products and solutions cover biological instruments, reagents, in-vitro diagnosis solutions, and antibody research.
With its registered headquarters in East China’s Suzhou, Monad has also set up an operation centre in Shanghai and a factory in Central China’s Wuhan. Meanwhile, the company is poised to build an overseas R&D centre in the coming two years.