A shopping guide app named DIAOX2 announced it has completed a Series A fundraising of USD five million, led by China Growth Capital. Before this, it had received USD one million from Crystal Stream in an angel round, the Tech channel of NetEase news portal reported on Wednesday.
DIAOX2, an app that provides quality product recommendations targeting young consumers came out in November 2014. This round of investment will be used to strengthen the R&D team, with funds slated for recruiting more talent, said founder Liao Ruoxue, ex-president of the Technical Committee of China’s searching engine Baidu.
DIAOX2 consists of four sections: Recommended Goods – goods picked from different countries and tested – Search, Classified hot stuff, and Pictures from users.
The founder said that what makes the app different from the gadgets column or community contributions is the intelligent recommendation engine and search engine, thanks to the search engine and personalized recommendation system provided by Baidu. To illustrate an example, entering either “backpack”or “presents for boyfriends” as keywords can lead users to selected interesting products of good quality from around the world.
Wu Haiyan, Partner of China Growth Capital, an investor in this app, said that in the mobile internet era with overwhelming products, Diaox2 is like a sweet friend, helping direct consumers to quality goods and making lives better.