Digital marketing technology start-up Sinorbis – a company that connects Australian businesses with Chinese consumers – has been given a $4 million funding boost.
The Series A funding, led by Jelix Ventures, will be used to accelerate the growth of the digital marketing platform which was launched to market in July 2017.
The Sinorbis software is designed to make it easier for Australian and international businesses to market their products to 800 million Chinese online consumers – more than a quarter of the world’s online population.
“Before the launch of Sinorbis, gaining access to China’s fast-growing online market has been fraught with challenges for international businesses due to China’s unique digital ecosystem and the cost of doing so was prohibitive for the majority of SMEs,” said Sinorbis CEO Nicolas Chu.
“Our technology levels the playing field for Australian businesses looking to capitalise on China’s booming digital market, worth over $1 trillion in online sales alone.”
Diverse client portfolio
Sinorbis has gained significant traction since first commercialising the platform and has signed a diverse client portfolio, ranging from sole traders to ASX Top 15 organisations. About 30% of its clients are based overseas.
“Our biggest demand comes from the consumer goods and education sectors,” says Chu.
Since launching Sinorbis has secured prominent clients such as BMW Australia, Sydney Airport, Bioglan, Nature’s Way, Yellow Tail, Bod Australia, Pharmacare Laboratories, UNSW and The University of Sydney, as well as overseas clients such as the Accor Group, the French department store Galleries Lafayette Group and the payment platforms VEEM and Ingenico.
This year, the software also won multiple awards, including the Australian Business Awards for New Product Innovation.
Great early results
“We were very impressed with what the Sinorbis team has been able to achieve in a little over a year since its launch,” said Jelix Venture CEO and founder, Andrea Gardiner. “We’re investing in a promising Australian start-up with great early commercial results and a notable client portfolio.”
Other investors include Executive Channel Holdings who led the previous round of early stage funding.
“We have been able to follow Sinorbis’ growth since our first investment and have seen firsthand the excellent solution the team has built to reduce the cost, risk and barriers to entry for businesses looking to capitalise on the growing Chinese demand,” said Executive Channel Holdings CEO, Charles Parry-Okeden.
“We are pleased to have been given the opportunity to join another funding round that will help the business reach the next phase of growth.”