On March 23rd, JD Industry, a sub-group of JD.com and an industrial supply chain technology and service business, announced the completion of a B Series preferred stock transaction with the total amount of $300 million.
This time, the investor lineup is strong, which was jointly led by the Abu Dhabi sovereign fund, Mubadala and Abu Dhabi investment fund, 42XFund, Large Asset Management group M&G, Asian platform BPEA EQT (formerly Barings Asia Investment) under global private equity giant EQT and existing shareholder Sequoia China as co-investor.
After the transaction is completed, JD.com will remain the controlling shareholder of JD Industry. The influx of funds will continue to build industrial supply chain technology products and solutions.
The last round of JD’s financing took place in May 2020, with a total financing of $230 million giving it a post-investment valuation of over $2 billion.
It should be noted that when round A raised funds in 2020, JD Industry was also named JD Industrial Products, but now it has been renamed.
The renaming of JD Industry is related to its own business development. Unlike traditional companies that focus on commodity trading or a single link in the supply chain, JD Industry puts forward the “digital intelligent supply chain”, which covers the whole gamut of goods, technologies, services and solutions, and is also committed to promoting industrial efficiency, opening up all links of the industrial chain through transformational end-to-end industrial supply chain digitalization, reducing the overall costs of the supply chain and improving industrial synergy.
Last year, JD Industry also launched a project with the internal name of “Industrial Performance Neuroscience (IPNP)”, which plans to link up the entire industrial chain like a “neural network” through a series of technical products, and turn the supply chain of enterprises into an industrial supply network.
At present, around the digital intelligence of the whole link of industrial supply chain, JD Industry has initially established a comprehensive procurement supply chain solution covering MRO, electronic components, BOM and other industrial products, as well as a comprehensive industrial digital intelligence solutions covering the whole life cycle of industrial equipment purchases, use and maintenance, such as digital intelligence procurement, operation and maintenance. The enterprises have so far included brand owners, industrial enterprises and retail stores of various industrial products.