China Digest: FreshMarket secures Series C led by Tiantu; HighLight backs Ennovabio

A Chinese O2O fresh food platform FreshMarket has closed its series C+ round led by Tiantu Capital while HighLight Capital has led a pre-series A round in Shanghai’s innovative drug firm Ennovabio.

FreshMarket secures $44m series C led by Tiantu

Tiantu Capital has led an RMB290 million ($44 million) series C+ in Jiangsu-based Yisui Information Technology, an operator of online fresh food platform FreshMarket.

This round brings a total funding of the company to over RMB700 million ($107 million), said the company.

FreshMarket, founded in 2012, allows customers to buy fresh food via mobile app. It plans to enhance the efficiency of the supply chain and expand its service in China with the latest investment.

Previously, FreshMarket received RMB45 million ($7 million) in series A round from ShareLink Capital in 2013 before completing an RMB180 million ($27 million) series B round two years later. Last year, Addor Capital led an RMB249 million ($38 million) series C round last April.

HighLight leads pre-series A in Ennovabio

HighLight Capital has led a $10 million pre-series A round in Shanghai-based novel drug firm Ennovabio with participation from Chinese investment house Zhangkelingyi.

Back in December 2016, this company was founded by Jiang Lei, who previously worked with Novartis International and Shanghai Haihe Pharma and Shanghai Green Valley Pharma with his purposes to develop and create new innovative drugs.

The startup is now developing an innovative drug that targets brain glioma and building a compound library for other drug developers

It plans to use the proceeds to fund the innovative drug research and development platform and invest in the development of its first-in-class innovative drug.

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