Baiwancang

About Baiwancang

Baiwancang, legally registered as Shanghai Baiwancang Network Technology Co., Ltd., was established on July 8, 2015. The company operates as a B2B e-commerce service platform focused on industrial products. Its business model centers on providing a comprehensive online marketplace for Maintenance, Repair, and Operations (MRO) goods. This involves sourcing and selling a wide array of items necessary for the ongoing operations of other businesses, though these items are not part of the end products.

The platform serves businesses by streamlining their procurement process for industrial supplies. Baiwancang's product catalog is extensive, featuring categories such as electrical control systems, measurement tools, cutting instruments, construction materials, chemical products (excluding hazardous materials), metal alloys, rubber goods, lubricants, and various types of machinery and electronic equipment. By consolidating a vast range of industrial goods onto a single platform, the company aims to simplify sourcing, reduce procurement costs, and improve efficiency for its clients. The business generates revenue through the sale of these goods on its internet platform.

Since its inception, Baiwancang has secured funding to support its growth. In August 2016, it received an undisclosed amount in an angel round from investors including Gaorong Capital and Lightspeed China Partners. This was followed by a seed round in January 2017, where it raised $1.0 million from Hanhua Financial Holding. A more substantial Series A round of $10.0 million occurred in September 2019, bringing its total disclosed funding to $11.0 million. The company's legal representative is Yang Ning.