Tencent leads $31m round for Chinese online grocer
Tencent Holdings has led a RMB200 million ($31 million) for Miss Fresh, a Chinese online grocery retailer.
Domestic VC Zhe Shang Venture Capital also participated. The new capital will be used to source high quality agricultural products, improve cold chain logistics systems and for marketing, according to Tencent QQ news.
Miss Fresh was founded last December by two former executives at Joyvio Group, an agribusiness arm of Legend Holdings. Its mobile app allows customers to buy fresh vegetables, seafood, fruit, and dairy products.
At present the company operates in fewer than 10 Chinese cities, including Beijing, Shanghai and Shenzhen. It claims to receive more than one million orders each month, facilitating approximately RMB50 million worth of transactions.
The start-up secured $5 million angel funding from GX Capital on inception, and then received an undisclosed Series A round from Tencent and GX in May.
In line with Miss Fresh's Series A, Chinese online retailer JD.com announced it led a $70 million Series C round for Fruitday, an e-commerce site dedicated to selling imported fruit, alongside existing investors SIG Asia Investments and ClearVue Partners.
More on Greater China
Latest News
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...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.