ClearVue Partners backs $5m round for China online grocery store
ClearVue Partners has led a $5 million Series A round of funding in Shanghai-based online grocery store Fields.
The proceeds will be used to further expand operations, website, and new warehouse, as well as to hire people.
"Fresh food delivery is an important and rapidly growing category in ecommerce, especially in China," said William Chen, managing director at ClearVue Partners, in a statement. "Fields' business operations, management team, and their focus on quality impressed us greatly and are the reasons we chose to invest in this leading platform."
ClearVue Partners focuses on investments in Greater China's consumer sector, primarily in the food and beverage, consumer lifestyle, and consumer internet and mobile sub-sectors.
Fields was co-founded by TZG Partners, a Shanghai-based investment firm, in 2009. It has more than 180 employees to serve customers in Shanghai as well as in Zhejiang and Jiangsu provinces. It pledges to provide a same-day service in Shanghai, and a next-day service in other Chinese cities.
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