The e-commerce platform selling matching outfits for babies and families has gained more than USD 700 million so far.
September 13, 2021
SoftBank’s Vision Fund 2 has invested USD 160 million in PatPat, a global e-commerce platform selling babywear and matching family dresses. This is followed after the startup had raised USD 510 million from a number of Chinese investors.
As reported in Deal Street Asia, the recent investment is a Series D2 round in PatPat. This has made the e-commerce company’s total raised funds to more than USD 700 million, as informed by Chinese investment firm Index Capital.
Headquartered in California, United States, PatPat was started in the year 2014. The company had brought SoftBank as a new investor following the completion of Series C and D rounds of funds in the previous month.
General Atlantic, Capital Today, and CDH Shanghai Baifu Wealth Management, a unit of CDH investments together led the Series C Round. Further, the Series D round was led by billionaire Yuri Milner-led DST Global, with participation from General Atlantic, Ocean Link, and GGV Capital.
Also Read: Softbank invests USD 400M in Indian baby products retailer FirstCry
PatPat is now regarded as one of the up-and-coming e-commerce sites for babies and kids, that now delivers its products to more than 100 countries. In addition to Silicon Valley, PatPat has its offices in San Francisco, and Los Angeles in the USA, and in cities in China including – Shenzhen, Guangzhou, Hangzhou, and Foshan. The company has its presence in Dublin, Manila, and London.