Venture capital firm Qiming Venture Partners LLC led other investors in infusing $100 million of Series D capital into Club Factory, a Chinese e-commerce platform focused on the Indian market, DealStreetAsia reported.
Club Factory's existing shareholders — Bertelsmann Asia Investments and Frees Fund — also participated in the latest funding round.
Club Factory will use the new funding to develop its "open platform strategy" by expanding its product range, attracting more Indian local merchants and developing its data management services, according to the report.
