AVCJ

Trustbridge joins round for China food ordering site Meican

  • LinkedIn  
  • Google plus  
  • Save this article  

Meican, a Chinese food ordering platform, has received an undisclosed sum in follow-on funding from Trustbridge Partners to complete a Series B round of funding.

Last month, the company received $10 million in the first tranche of a Series B, which was led by Nokia Growth Partners, with participation from KPCB China. According to AVCJ Research, Unity Ventures, KPCB and Zhenfund invested in the company two years ago.

Trustbridge invested due to Meican's professional team and the growth prospects of the online-to-offline (O2O) business, local media reported.

Shanghai-based Trustbridge was founded by several technology sector veterans, including Donglei Zhou, formerly senior executive at Shanda Interactive Entertainment. The firm focuses on tech, media and telecom investments.

Its portfolio includes Douban, a Chinese social networking service for book, movie and music reviews; Dianping, one of China's most popular sites for restaurant reviews, and online peer-to-peer lending platform Renrendai.

Meican, which launched in 2011, provides food ordering services for about 30,000 restaurants in major Chinese cities, including Beijing and Shanghai. The company pulls in about RMB1 million (US$160,000) in monthly revenue. It takes commissions from restaurants on each transaction.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Greater China

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs