# Pinduoduo funding: rounds and investors

> Pinduoduo has raised $4.4B across 2 rounds since 2018. Investors include Tengxun Touzi, IDG Capital and HSG. Every round with its source.

Source: https://millionrounds.com/company/pinduoduo (Millionrounds; every figure on the page links to its filing or article)

China · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Pinduoduo*

2 rounds we have observed, with the 5 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Enterprise Software Internet

Funding summary Updated 26 Oct 2026

**$4.4B** raised across 2 rounds since 2018, from 2 sources

**$1.4B** Series D **$3.0B** Round

- **Latest round:** Round, $3.0B Apr 2018
- **Step-up i:** 2.1×
- **Investors:** 5

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2019

**$1.4B** Series D

**$3.0B** Round

- **First round:** Series D, $1.4B
- **Biggest round:** $3.0B

## The rounds

- **Apr 2018** Round **$3.0B** *1 new* [Tencent/ Sequoia](https://millionrounds.com/fund/tencent-sequoia) Reported by China Money Network
- **Apr 2018** Series D **$1.4B** *4 new* [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) [IDG Capital](https://millionrounds.com/fund/idg-capital) [HSG](https://millionrounds.com/fund/hsg) [Gaorong Capital](https://millionrounds.com/fund/gaorong-capital) Source recorded

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Series D** 2018 **Round** 2018 [Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) [IDG Capital](https://millionrounds.com/fund/idg-capital) [HSG](https://millionrounds.com/fund/hsg) [Gaorong Capital](https://millionrounds.com/fund/gaorong-capital) [Tencent/ Sequoia](https://millionrounds.com/fund/tencent-sequoia)

## Everyone who backed them

[Tengxun Touzi](https://millionrounds.com/fund/tengxun-touzi) VC firm **1** round

[IDG Capital](https://millionrounds.com/fund/idg-capital) Private equity **1** round

[HSG](https://millionrounds.com/fund/hsg) VC firm **1** round

[Gaorong Capital](https://millionrounds.com/fund/gaorong-capital) VC firm **1** round

[Tencent/ Sequoia](https://millionrounds.com/fund/tencent-sequoia) Investment firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=pinduoduo).

## Quick answers about Pinduoduo

### Who invested in Pinduoduo?

Pinduoduo's investors include Tengxun Touzi, IDG Capital, HSG, Gaorong Capital and Tencent/ Sequoia.

### How much has Pinduoduo raised?

Pinduoduo has raised $4.4B across 2 rounds since 2018.

### When did Pinduoduo last raise?

Pinduoduo's most recent round was an Undisclosed round of $3.0B in Apr 2018.

### What was Pinduoduo's biggest round?

Its most recent round, $3.0B in Apr 2018, is also its largest on record.

### Who backed Pinduoduo first?

Pinduoduo's first round on record, in Apr 2018, was backed by Tengxun Touzi, IDG Capital and HSG and 1 others.

### What stage is Pinduoduo at?

Pinduoduo's latest named round is an Undisclosed round, in Apr 2018.

### Where is Pinduoduo based?

Pinduoduo is based in China.

## Companies like Pinduoduo

In the same sector, and raised in the last eighteen months.

[**ByteDance** $33B · Sept 2026](https://millionrounds.com/company/bytedance)[**Freedom** Oct 2026](https://millionrounds.com/company/freedom)[**Albert Invent** $20M · Oct 2026](https://millionrounds.com/company/albert-invent)[**AuxoAI** $21M · Oct 2026](https://millionrounds.com/company/auxoai)[**Whop** $400M · Oct 2026](https://millionrounds.com/company/whop)[**Blackwall** $162M · Oct 2026](https://millionrounds.com/company/blackwall)

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