JD Industry Valuation, Funding & Investors

JD Industry is valued at $2B as of May 2020.

Last JD Industry valuation

$2B

Series A · May 2020

Last JD Industry funding round

$300M

Series B · Mar 2023

Cumulative funding JD Industry raised

$530M

across 2 funding rounds

Key investors in JD Industry

  • HSG
  • GGV Capital
  • Mubadala
  • CITIC Capital Holdings
  • M&G Investments
  • BPEA EQT

JD Industry Overview

About JD Industry

JD Industry is a Beijing-based subsidiary of JD.com specializing in industrial maintenance, repair, and operations products. Operating through the JD MRO platform on imall.jd.com, it supplies tools, safety equipment, fasteners, and consumables to manufacturing, construction, and energy sectors in China.


Founded

2017

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$2B (May 2020)

JD Industry Valuation

JD Industry is currently valued at $2B, based on its Series A in May 2020.

The $230M round was led by GGV Capital, with participation from CITIC Capital Holdings and HSG.

JD Industry valuation by funding round

JD Industry valuation by funding round
DateStageValuation
May 2020Series A$2B

JD Industry Funding History

JD Industry has raised a total of $530M across 2 funding rounds.

JD Industry's first fundraising round was a $230M Series A in May 2020. The most recent completed round was a $300M Series B in March 2023.

JD Industry funding rounds

JD Industry funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2023Series BMubadala (lead); G42 Expansion Fund; M&G Investments; BPEA EQT; HSG$300M-JD Industry, a subsidiary of JD.com focused on industrial supply chain technology and services, closed a Series B funding round in March 2023 led by Mubadala Investment Company and 42XFund. The round raised $300 million from a consortium that also included M&G Investments, BPEA EQT (Asia platform of EQT Partners), and existing shareholder Sequoia China. JD.com retained controlling shareholder status post-transaction. The company's prior funding occurred in May 2020, when it raised $230 million in Series A financing at a post-investment valuation exceeding $2 billion. JD Industry operates a digital intelligent supply chain platform offering comprehensive procurement solutions covering maintenance, repair and operations (MRO) products, electronic components, and bill of materials (BOM) services, alongside industrial digital intelligence solutions for equipment lifecycle management. The company serves brand owners, industrial enterprises, and retail operations across various sectors. Proceeds from the Series B were designated primarily for infrastructure and technology service investments to develop additional supply chain technology solutions serving enterprise customers. JD Industry positions itself as part of JD.com's broader strategy to serve the real economy and develop into a leading global industrial supply chain technology and service provider.
May 2020Series AGGV Capital (lead); CITIC Capital Holdings; HSG$230M$2BJD Industry, operating as JD MRO, is the industrial goods marketplace and maintenance, repair, and operations (MRO) unit of JD.com, focusing on B2B e-commerce for industrial products, particularly 3C electronics, digits, logistics, health, and MRO sectors. It became JD.com's fourth unicorn following a Series A financing round announced alongside JD.com's Q1 2020 results. The round, entered into on April 24, 2020, raised USD 230 million from investors including lead GGV Capital, Sequoia Capital China, CPE, and HSG (mentioned in related documents), representing 10.7% equity on a fully diluted basis, implying a post-money valuation exceeding USD 2 billion, with one source specifying USD 2.1 billion. The financing solidified JD MRO's position in China's competitive e-commerce landscape, responding to moves by rivals like Alibaba's Tmall and Pinduoduo's investments in retail. JD MRO had achieved first-tier category status on JD.com by 2018 and homepage placement, building on strong operational metrics such as JD.com's 387.4 million active users in the 12 months ending March 31, 2020. Post-round, JD MRO continued growth within JD's ecosystem, with the deal fully settled by August 2020. Subsequent developments included acquisitions like Suzhou Gongpinhui in August 2020 for RMB 246.6 million and integrations with entities like ICMALL, alongside ongoing issuances to JD Industrial Technology. The unicorn status highlighted JD's strategy to spin out high-potential units amid intensifying competition in industrial e-commerce.

Who has invested in JD Industry?

7 investors have backed JD Industry across its funding rounds, including HSG, GGV Capital, Mubadala, CITIC Capital Holdings, M&G Investments and BPEA EQT.

Lead investors include Mubadala and GGV Capital.


JD Industry Investors

Investors in JD Industry by funding rounds participated
InvestorHQRoundsRoleFirst check
HSGHong KongHong Kong2ParticipantMay 2020
G42 Expansion FundUAEAbu Dhabi1ParticipantMar 2023
M&G InvestmentsUnited KingdomLondon1ParticipantMar 2023
BPEA EQTHong KongHong Kong1ParticipantMar 2023
GGV CapitalUnited StatesSan Francisco, CA1LeadMay 2020

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Acquisitions by JD Industry

JD Industry has acquired 1 company to date.

Last acquisition by JD Industry was on August 11th 2020. JD Industry acquired VIPMRO for undisclosed valuation.


Latest Acquisitions by JD Industry

VIPMRO
Description
VIPMRO is an online marketplace for industrial maintenance, repair, and operations supplies targeting small and medium-sized businesses in Eastern Europe. The Poland-based platform stocks tools, safety gear, and spare parts from brands like Bosch and 3M, enabling home delivery for hard-to-find items. VIPMRO provides catalog browsing, bulk ordering, and procurement analytics for manufacturing clients.
HQ CountryChina
HQ City
Suzhou
Deal Date11 Aug 2020
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Investments by JD Industry

JD Industry has invested in 1 company to date.

Latest investment by JD Industry was on March 15th 2021. JD Industry invested in ICHunt.com in their $100M Series C round.


Latest Investments by JD Industry

ICHunt.com
Description
ICHunt.com is a Shenzhen-headquartered B2B platform connecting global suppliers and buyers of electronic components. Launched in 2015, the site aggregates inventory from manufacturers in China, the US, and Europe, enabling spot procurement of semiconductors, capacitors, and resistors. ICHunt employs AI and big data for supply chain matching, serving K-A terminals and SMEs with real-time pricing and logistics.
HQ CountryChina
HQ City
Shenzhen
Deal Date15 Mar 2021
RoundSeries C
Raised$100M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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JD Industry Competitors

JD Industry competitors include listed companies like Target Hospitality, Midera Food Processing, Alexandria Containers and Goods and Daiwabo Holdings, and private ones like Lessen and Front.

Public and private companies comparable to JD Industry
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LessenUnited StatesPhoenix, AZPrivate--$2B-
Target HospitalityUnited StatesUnited StatesPublicly listed$321M$36M$2B5.1x
Midera Food ProcessingUnited StatesUnited StatesPublicly listed$853M$89M$2B2.5x
Alexandria Containers and GoodsEgyptEgyptPublicly listed$160M$102M$1.9B10.5x
Daiwabo HoldingsJapanJapanPublicly listed$8.7B$302M$2.1B0.3x
FrontUnited StatesSan Francisco, CAPrivate$62M-$1.7B27.4x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Target Hospitality$321M$36M6.5x5.1x58.4x22.2x
Midera Food Processing$853M$89M2.6x2.5x25.3x14.0x
Alexandria Containers and Goods$160M$102M11.4x10.5x17.9x14.4x
Daiwabo Holdings$8.7B$302M0.3x0.3x7.5x8.2x
Dicker Data$1.8B$112M1.2x0.7x19.1x16.0x
Badger Infrastructure$832M$184M2.9x2.6x13.1x10.6x
Grupo GPS$3.4B$436M0.7x0.7x5.3x6.4x
Wintech Nano (Suzhou) Co$79M$34M24.9x-58.0x-

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Common questions about JD Industry

When was JD Industry founded?JD Industry was founded in 2017.
Where is JD Industry headquartered?JD Industry is headquartered in Beijing, China.
Is JD Industry publicly listed?No, JD Industry is a private, VC-backed company.
What is JD Industry's valuation?JD Industry was last valued at $2B in its Series A in May 2020.
How much funding has JD Industry raised?JD Industry has raised $530M across 2 funding rounds.
What was JD Industry's last funding round?JD Industry's last funding round was a $300M Series B in March 2023, led by Mubadala.
Who are JD Industry's investors?JD Industry's investors include HSG, G42 Expansion Fund, M&G Investments, BPEA EQT, GGV Capital, Mubadala and CITIC Capital Holdings.
Which companies are comparable to JD Industry?Companies comparable to JD Industry include Lessen, Target Hospitality, Midera Food Processing, Alexandria Containers and Goods, Daiwabo Holdings and Front.
How many companies has JD Industry acquired?JD Industry has acquired 1 company, including VIPMRO.
How many companies has JD Industry invested in?JD Industry has invested in 1 company, including ICHunt.com.
What was JD Industry's last investment?In March 2021, JD Industry invested in ICHunt.com's $100M Series C.

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