(Yicai Global) Jan. 3 -- Mikibobo, the imported maternal and child products retailer, raised tens of millions of yuan in series-A1 financing and will use the funds to upgrade its supply chain system and strengthen its position in the market by providing reliable maternal and child products to users, the company said.

Babytree was the lead investor in this round of financing, and co-investors included some original shareholders such as Shuimu Zehua Fund and 10Fund, online media outlet 36Kr quoted the firm as saying. Mikibobo is a retail company that specializes in high-end imported maternal and child products. It has large numbers of overseas purchasers and implements anti-fake tracing method on every product. Mikibobo also provides maternal and child information as well as advice on parenting to end customers, says company's publicly available information.

Over the past 16 months, Mikibobo has substantially expanded across the country. It now owns more than 1,200 stores, with over 50 percent month-on-month growth in its gross merchandise volume, data show. The company has a significant advantage over its competitors in terms of its business scale and growth speed, it claims.

Some Chinese households with relatively good income prefer imported products, especially imported food and baby & child products, due to lack of sound information about the quality of some domestic products. Such strong demand provides high-end product importers with favorable business opportunities in China.