MaHui | MaHui Member "RuiGu Mall" Announces $400 Million Funding Round Completed Within Six Months — Previous Investor Source Code Capital Provided Continuous Support Across Five Rounds

源码资本·August 1, 2022·0·0

Recently, RuiGu Mall announced it has raised a total of $400 million in equity financing over the past six months. In October 2021, it completed a $250 million round led by Primavera Venture Partners, with participation from Source Code Capital, Taikang Life Insurance, Prologis GLP, C&D Emerging Investment, Eastern Bell Capital, CDH Investments VGC, and Chengwei Capital. In May 2022, it closed a $150 million round led by Ontario Teachers' Pension Plan's

#MaKe Key Updates from Source Code Capital and MaHui Members

Recently, RuiGu Mall announced it has completed a total of $400 million in equity financing within six months. In October 2021, it closed a $250 million round led by Primavera Venture Partners, with Source Code Capital, Taikang Life Insurance, Prologis GLP, C&D Emerging Investment, Eastern Bell Capital, CDH Investments VGC, and Chengwei Capital participating as co-investors. In May 2022, it completed a $150 million round led by Teachers' Venture Growth (TVG), the venture investment platform of Ontario Teachers' Pension Plan. Source Code Capital, an existing shareholder, has continued to increase its investment across five consecutive rounds since the company's Series A.

Founded in 2015, RuiGu has adhered to its founding mission of "empowering the MRO industry through technology and data" from day one, building a fully digitalized value chain spanning production, distribution, retail, and services. Its goal is to help hundreds of thousands of small and medium-sized enterprises on the retail and service side, as well as tens of thousands of quality factories on the manufacturing side, complete their digital transformation and comprehensively improve China's industrial manufacturing capabilities and distribution efficiency.

China is the world's largest producer of industrial goods. Taking power tools as a single category example, Chinese production capacity accounts for nearly 70% of global output. At the same time, China is also the world's largest market for industrial goods demand. Against the backdrop of a disappearing demographic dividend and rising labor costs, downstream industries' demand for quality MRO products continues to grow. Since its founding, RuiGu has covered and served more than one-third of China's industrial goods distribution channels. With a mission to drive the upgrading of industrial goods manufacturing, it has continuously completed the integration of quality production capacity in core categories, supporting the growth of quality factories with technical expertise and development potential, and empowering Chinese industrial goods manufacturers to create Chinese brands and achieve "Intelligent Made in China." Within RuiGu's ecosystem, industrial goods manufacturing factories can achieve product R&D and pricing better aligned with market demand, smarter manufacturing and management, and faster business growth. Through digital new infrastructure that runs through the entire industry, RuiGu can provide more competitive products and services to China and the global market.

Gao Yang, founder and CEO of RuiGu Mall, said: "The digital economy and intelligent manufacturing are important growth engines for China's future economy. The industrial goods industry is a long slope with thick snow. RuiGu hopes to become the 'digital brain' of the industry, driving end-to-end closed-loop digital transformation, making the production of industrial goods smarter, distribution smarter, and services smarter."