Alibaba Group to invest $21m in Mengniu-backed milk delivery startup

Alibaba Group to invest $21m in Mengniu-backed milk delivery startup

Photo by rawpixel.com from Pexels

Alibaba Group plans to invest 150 million yuan ($21 million) in Tianxianpei, a Shanghai-based online-to-offline (O2O) milk delivery platform owned by Chinese dairy products producer Mengniu Dairy, according to the national enterprise information disclosure platform.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter