We are pleased to announce that Princeville Capital recently concluded an investment in Hipac (海拍客) as part of its Series D round of financing.
Hipac (海拍客) is the leading B2B eCommerce platform targeting the Mother-Infant-Child (“MIC”) value chain in China. The company provides access to products and digital services to empower specialty MIC stores with a focus on lower-tier cities, where two-thirds of the nation’s childbirths happen. Hipac directly services and provides education and value-added offerings to ~200,000 offline MIC stores across 30 provinces, representing ~50% of all such stores in China, thus allowing leading OEM brands across multiple MIC categories to effectively market to and access this high growth segment of the market.
Hipac’s unique omnichannel business model is ideally positioned to service the multibillion-dollar MIC market. The company provides its offline customers with the convenience of a one-stop location for the most comprehensive available selection of products at the most competitive wholesale prices. Their technology-enabled offline sales network allows them to directly service these buyers with value-added offerings such as in-store BD support, credit lines, and store digitalization tools. For brands, Hipac is a unique channel providing a significant extension on reach, pricing control, and sales visibility, as well as tools for effectively marketing to in-store customers and creating a direct data feedback loop.
While the outbreak of COVID-19 in 2020 has undoubtedly had a significant adverse impact on the Chinese economy, the MIC category has proven to be highly defensive and deserving of its status as a must-have consumer staple. Thanks to the management team’s exceptional execution capabilities, Hipac has registered strong profitable growth in Q1.
The funding will be used to expand the technology team, optimize the supply chain system, upgrade technology tools, and acquire quality MIC labels. Princeville Global joins a highly regarded group of investors, including Anchor Equity Partners (who is leading this round) as well as other existing investors such as Hillhouse, Shunwei Capital, Fosun Capital, and others.
Following this round, Princeville will also be joining Hipac’s Board as an observer.
