The winner of the Startup Battlefield at TechCrunch Disrupt Beijing 2011, group buying platform OrderWithMe, today announced it has raised a US$3 million A round. The fresh money comes from Japan- and China-based Infinity Venture Partners as the lead investor and existing (seed) investor SOSventures, barely a month after the China-based startup walked away with the Disrupt Beijing Cup and a US$50,000 check.
The service wants to solve a difficult problem for US merchants that are interested in purchasing goods – in bulk and at discounted prices – in China. The (mainly) American team handpicks daily inventory deals from Chinese companies – if a sufficient number of merchants indicates interest in the deal, it happens (if not, the offer is canceled – just like with Groupon). OrderWithMe handles payment, shipping, etc. in China for its customers.
- Infinity Venture Partners has invested in many startups in China, which might be even more than in Japan. It also invests in Groupon Japan.