Yami, an on-line retail outlet that sells Asian snacks, splendor items and house items, took the wraps off a $50 million Sequence B funding round on Wednesday.
Two undertaking companies co-led the spherical: Menlo Park’s Altos Ventures and New York’s Balsam Bay Partners. GGV Money, also primarily based in Menlo Park, and JPMorgan chipped in as perfectly.
The Brea, Calif.-based mostly market carries well-known Japanese, Korean, Chinese and Southeast Asian brands—from Japanese snack-maker Glico (well known for its Pocky treats) to Dr. Jart+, a South Korean skincare enterprise.
With the new income, Yami plans to extend its inventory, increase delivery periods through a new East Coastline warehouse and beef up its supply chain technological know-how.
A 5-calendar year remain as an global university student in Kansas, “in the middle of nowhere,” impressed founder and CEO Alex Zhou to start Yami in 2013. “I pretty much experienced to drive in excess of two hours to uncover Chinese chili sauce or immediate noodles,” Zhou informed dot.LA, contacting his stint in Kansas a “blessing in disguise” that drove him to relocate to Los Angeles to commence the organization.
“At minimum it can benefit consumers like me—who are living in the United States, originally from Asia—looking for the items they are utilized to when they were being in their mother nation,” Zhou extra.
Some 2 million shoppers afterwards, Yami claims it now carries far more than 260,000 inventory-holding units (SKUs) from in excess of 4,000 models. In addition to its residence foundation in Southern California, it operates a 2nd headquarters in Xi’an, China.
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