Allchips Closes Nearly $10 Million Series B Round
Allchips Limited, an electronic component online platform based in Shenzhen, Guangdong China, has raised a total of $10 million in funding over two rounds. The latest funding of the company was raised on April 15, 2019, from a Series B round.
Langke Investment led the round of financing followed by Lanhai Zhongli and Reading Capital. The investment gathered by the company will be used in the development of an intelligent supply chain and in enlarging their market share.
The company is an electronic component B2B service platform focused on intelligent supply chain management. The platform started its online operation on March 2016 and it won the Angel round financing from Reading Capital in June of that same year. in 2017, Allchips announced that they have finished the Pre-A financing from Langhai and in 2018 gathered an additional round of investment.
The platform is supported by over 1,000 original manufacturers and authorized agents. The company owns around 10 million products data after staying in the business for over 10 years. Allchips was founded by Li Liuqi on August 8, 2015. The platform actively utilizes the technologies of 12 websites including Google Analytics, SSL by Default, and Google Universal Analytics. It is currently ranked 2,172,298 among websites globally based on its 14,667 monthly web visitors.
The annual revenue of the company is estimated at around $310,000 annually. It competes with Digi-Key Corp, Future Electronics, and RS Components. In January 2018, the company won 10 million of around investment.
Mr. Liugi said that the annual turnovers of some traditional foreign distributors, like Arrow, Avnet, and Future, is over 100 Billion RMB. He, however, said that the biggest traditional distributor in China only get the annual sales around 15 billion RMB because Chinese semiconductor industry begins very late, and we did not get the first chance to enjoy traditional distributors bonus.
He added that there would be more investments swarming into the electronic components industries in 2018, while for start-up companies, he does not think they have any more chances. He added that he believes there would be some unicorns who owns over 10 billion of market value born in this industry within 5 years.
The founder is a veteran in the electronic components industry who's been working for more than 10 years since he graduated his university studies in 2004. He builds the platform after noticing the distance between domestic and overseas semiconductor industry and the rising tendency of the industry in China.