Womai Co., Ltd. announced that it has received $220 million in funding from Baidu, Inc., IDG Capital Partners, COFCO Agricultural Industry Fund Management Co., Ltd., Sunshine Insurance Group Company Limited, Dragon Capital Group Corp., Taikang Asset Management Co., Ltd.

On October 21, 2015, Womai Co., Ltd. closed the transaction. The company announced that it has received $20 million in second tranche closing of the transaction. The company has raised $220 million in funding so far in the transaction.

The company estimated value is $1 billion. The transaction included participation from new investors Dragon Capital Group Corp., COFCO Agricultural Industrial Equity Investment Fund, managed by COFO Agricultural Industry Fund Management Co. Ltd. and private equity arm of Sunshine Insurance Group Company Limited and existing investors IDG Capital Partners.