Niangao-mama, an online parenting startup bagged a RMB$60 million (US$8 million) investment, and the round was led by its existing investor, the Chinese arm of US venture capital firm, Matrix Partners China, and it also included Ziniu Fund, a RMB angel investment firm.
The news was first reported by China Money Network, which also said that Matrix Partners China was an existing investor in the company, and had provided Niangao-mama with seed funding as well as Series A investment.
Founded in 2015, Hangzhou-based Niangao-mama is a platform that has created a broad network of maternity and childcare communities with quality content. The platform claims to have over seven million views and it also boasts of having about 100,000 articles online. The company also runs an e-commerce platform, Gaoma Youxuan, which it claimed had a monthly transaction volume of RMB80 million ($11.5 million).
The latest funding round will help the company develop their…