Technology-enabled e-Commerce company BorderX Lab has raised $20 million in a financing round led by Kleiner Perkins. The funds will be used to expand its Beyond App, which lets global shoppers purchase American and European lifestyle products, to countries outside China.
The mobile app focuses on the fashion, beauty, health care and lifestyle categories, with 50 partners including Saks Fifth Avenue, Peter Thomas Roth, Finish Line, Forzieri and Everlane. More than five million products are available on the platform.
The Beyond App combines big data with artificial intelligence (AI) to automate the end-to-end shopping experience, including integrating merchant product catalogs, processing customer orders, shipping route optimization, and customs and tax processing. BorderX also handles customer acquisition, authentication and purchase of goods, translation and localization of product information.
Other investors in this round include Hillhouse Capital Group, China Broadband Capital, Welight Capital and iFly Venture Capital.
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