Infant care online retailer Mia, formerly known as Miyabaobei, announced that it has received a $150 million USD series D funding led by Chinese search giant Baidu at a nearly $1 billion valuation. Other investors include existing backers of Sequoia Capital, H Capital and several unnamed U.S. private funds.

The round will push the company’s total funding to north of $230 million USD, together with $60 million USD Series C, $20 million USD Series B and $1.6 million USD round A, which were received consecutively within the past two years.

Nobody would doubt China’s tech boom, but Chinese internet startups don’t exactly maintain the good reputation when it comes to truthfully estimating their valuation. To ease public doubts about authenticity of the figure, Mia CEO Liu Nan showed a screenshot of the company’s bank account to show that the numbers are real.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.