Chinese e-commerce upstart Pinduoduo (aka PDD) has a hefty RMB 10 billion ($1.58 billion) to help the marketing and promotion of agricultural products from 500 production origins within this year. The company will use the funds to create brands for these products and build logistics networks.

The move comes after a $3 billion Series C, which valued the social e-commerce site at $15 billion this month. Founded in 2015, Pinduoduo has been gaining momentum quickly, especially among low-income users and lower-tier cities. The platform has accumulated around 300 million users on its app since its release.

The three-year-old startup is seen as the black horse to upend China’s e-commerce industry. As of April 26, 2018, PDD ranks #3 overall in the Chinese iTunes app store ranking for free apps, after popular apps like Tik Tok (aka Douyin) and hit photo app developed by Meitu, and ahead of other shopping apps like Taobao and JD.

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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.