What is Yami?
Established in March 2013, Yami (formerly Yamibuy) operates as a leading e-commerce entity focused on serving the Asian American demographic. The company provides a diverse range of products, including Asian snacks and food, beauty and health items, home appliances, and books. Yami's strategic positioning allows it to cater to a specific market niche, fostering brand loyalty and enabling scalable expansion within the online retail sector.
How much funding has Yami raised?
Yami has raised a total of $61M across 3 funding rounds:
Series A
$10M
Debt
$1M
Series B
$50M
Series A (2017): $10M with participation from New Oriental Education & Technology Group, Inc, K2vc, and GGV capital
Debt (2020): $1M led by PPP
Series B (2022): $50M supported by JPMorgan Chase, Altos Ventures, GGV Capital, and Balsam Bay Partners
Key Investors in Yami
New Oriental Education & Technology Group, Inc
New Oriental is a provider of private educational services founded in 1993 with a global presence across Asia, Europe, North America, and other regions. The company offers a comprehensive range of educational programs including K-12 after-school tutoring, test preparation, language training for adults, pre-school education, primary and secondary school education, educational materials distribution, and online education services. New Oriental operates through both physical locations and digital platforms, including a mobile app, serving both individual consumers and business clients. The company is publicly traded on both the New York Stock Exchange and Hong Kong Stock Exchange.
K2vc
Founded in 2010, 险峰K2VC specializes in early-stage investments, focusing on technological advancement, industrial upgrades, and innovative business models. The company manages several funds with nearly 10 billion RMB in assets and has invested in over 700 startups across various sectors, including technology, advanced manufacturing, and life sciences. 险峰K2VC also supports social progress through its philanthropic arm, providing long-term funding to promising nonprofit organizations. Recognized as one of China's top early-stage investment firms, it aims to guide entrepreneurs in their journey to success.
GGV Capital
Co-founded in Silicon Valley and Singapore in 2000, GGV Capital is a global venture firm that invests in local founders. With billions under management, with investments across the globe, As a multi-stage, sector-focused firm, GGV Capital invests in seed-to-growth stage companies across three sectors: Social/Internet, Enterprise Tech, and Smart Tech. Over the past two decades, we have backed companies around the world, including Affirm, Airbnb, Alibaba, Big Commerce, Boss Zhipin, Grab, HashiCorp, Hello, JD MRO, Keep, Kujiale, Manbang, NIU, Opendoor Technologies, Peloton, Poshmark, Qunar/Ctrip, Slack, Square, StockX, Udaan, Wish, XPeng, Zendesk, and more.
What's next for Yami?
The recent major enterprise-level funding and strategic investment indicate Yami's readiness for significant scaling and market penetration. This capital injection is expected to fuel advancements in logistics, product sourcing, and marketing efforts, further solidifying its position as a key player in the Asian American e-commerce landscape. Future growth will likely involve expanding product categories, enhancing user experience, and potentially exploring new geographic markets.
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